Vadodara: Chairman of the Realty Company filed a complaint against four company directors who had been established in Vadodara for realty projects in Waghodiya along with others cheating and under the Company law.
In his complaint, Sanjay Shah, Chairperson of DBS Realty Pvt Ltd, told the police that he decided to launch a project in Kamlapura Village in Waghodiya along with one of the Shah’s Kamesh stand, which is an administrator of a plot of land owned together by 11 People, after stakeholders show interest in the project.
The new company was founded in Vadodara with Sanjay and three owners Rehmatullah Mariaya, Johar Mariadiya and Ajay Shah as Director of the Company.
When the project requires large funds, a company based in Mumbai is made by 50% of shareholders in the project and two representatives of Divyang Mishra and Chandeshwar Parthi are also used as directors at the company.
The police said that five were accused – Mishra, Parthi, Rehmatullah, Johar and Kamlesh – hatched plans to make financial benefits through illegal ways.
Going with their plans, five held a meeting of directors on paper and used stamps and fake documents, making a memorandum of understanding (MoU) with the owner.
According to Mou, the company must provide land back to owners and prices and other charges also damaged.
“Because of counterfeiting and the next MoU by keeping the shareholders in the dark, the company must face a large financial loss,” a police officer said.
Kamlesh has been detained and the police are in the process of capturing four others.