Archive · 31 Dec 2025
Mumbai Builder Alleges ₹360-Crore Financial Fraud
A company in Mumbai called Sujay Resort says another company, Shore Dwelling, took a big loan of ₹360 crore from them but didn't pay it back.
They also promised to give some shares of another company but didn't do that either.
The money was borrowed for just 15 days but wasn't returned.
The police are now investigating this as a big financial fraud.
There's also another case in Bengaluru where the same companies are involved in a dispute over some land.
The police are looking at all the documents to find out what really happened.
Sujay Resort accused Shore Dwelling Pvt Ltd of taking a ₹360 crore loan and not repaying it.
The loan was taken as an inter-corporate deposit (ICD) for 15 days at 8% annual interest.
Shore Dwelling was also supposed to transfer 67% shareholding of Agara Techzone to Sujay Resort but failed to do so.
The loan amount was arranged through Indiabulls Housing Finance Ltd and transferred via RTGS to Shore Dwelling's account.
An FIR has been registered at BKC Police Station, Mumbai, under sections of cheating and criminal breach of trust.
- Who
- Sujay Resort and Township Project Pvt Ltd (complainant), Shore Dwelling Pvt Ltd and its directors (accused)
- What
- Alleged ₹360 crore financial fraud involving inter-corporate loan and share transfer
- When
- Loan taken on August 11, 2023; FIR registered in 2025
- Where
- Mumbai and Bengaluru
- Why
- Alleged failure to repay loan and transfer shares, leading to legal action
- Complainant
- Sujay Resort and Township Project Pvt Ltd
- Accused
- Shore Dwelling Pvt Ltd and its directors
- Loan Amount
- ₹360 crore
- Loan Date
- August 11, 2023
- Interest Rate
- 8% annually
- Loan Source
- Indiabulls Housing Finance Ltd
- FIR Registered At
- BKC Police Station, Mumbai
- Investigating Agency
- Economic Offences Wing (EOW), Mumbai