The economic offences housing unit arrested Mahalakshmi Developers Managing Director Parag Thakkar (43) and his wife and its director Shilpa on charges of cheating flat buyers and investors. A complaint was filed against them for having cheated customers up to Rs 18 crore. In 2013, Thakkar’s launched Mahalakshmi Residence Project in Karats of Maharashtra and received booking amount from 142 persons for 66 buildings. But they failed to complete the project—only 18 buildings are ready—and allegedly transferred the money into their accounts. The police have frozen at least 10 to 11 accounts of the firm.
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