EOW arrests directors of Nirmal Lifestyle in connection with cheating ET Real Estate of Rs 43 cr

Mumbai: The Economic Offenses Wing (EOW) on Friday Dharmesh and Rajeev JainDirector of Nirmal Lifestyle43 crore fraud case filed in 2021, and produced him before a local court, which remanded him in police custody till Monday.

The EOW informed the court that Jain allegedly failed to hand over flats to around 54 buyers in three Nirmal Lifestyle projects – Zircon, Amethyst and Firoza – thus duping them of Rs 43 crore. Three housing projects are yet to be completed.

This is the second case of such fraud against Jains. Last week, he was arrested on a complaint by 34 flat buyers in Mulund projects for failing to hand over flats and defrauding them of a total of Rs 11 crore.

The Esplanade Metropolitan Court on Wednesday sent the duo to judicial custody till May 16 and denied bail to Dharmesh in another case of cheating.

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