Archive · 30 Nov 2025
Bombay HC Grants Relief in ₹38.12-Crore Fraud Case
The Bombay High Court has temporarily helped Ultra Lifespace and its directors in a case where they are accused of cheating someone out of ₹38.12 crore.
The court said the investigation can continue, but no charges should be filed yet.
The case is about a man who bought flats but didn't get them on time.
He says he is owed money, but the company says he didn't pay what he owed.
Both sides are arguing in court, and the next hearing is on December 10.
Bombay High Court granted interim relief to Ultra Lifespace and its directors in a ₹38.12 crore fraud case.
The court directed the investigation to continue but ordered no chargesheet to be filed until the next hearing on December 10.
The case involves a dispute over delayed possession of three flats booked in 2014, with the buyer claiming ₹38.12 crore in losses.
Ultra Lifespace argues the matter is a commercial dispute and not a criminal offence, claiming the buyer did not pay the full amount.
The original developer, Satra Buildcon, handed over the project to Ultra Lifespace after a takeover in August 2019.
- Who
- Ultra Lifespace Pvt Ltd and its directors (Mayank Shah, Jignesh Shah, Tushar Shah) vs. Vijay Thakkar
- What
- Bombay High Court grants interim relief in a ₹38.12 crore fraud case
- When
- Next hearing on December 10
- Where
- Bombay High Court, Mumbai
- Why
- To prevent filing of chargesheet until the next hearing
- Parties Involved
- Ultra Lifespace Pvt Ltd, Mayank Shah, Jignesh Shah, Tushar Shah, Vijay Thakkar
- Alleged Amount
- ₹38.12 crore
- FIR Registration
- Bandra police station, later transferred to EOW
- Next Hearing
- December 10
- Original Agreement Date
- 2014
- Project Completion Deadline
- December 2017
- Occupancy Certificate Date
- 2020
- Takeover Date
- August 2019
