About 700 homebuyers who have made bookings in four projects of Jaycee Homes Corp staged a protest at Azad Maidan on Tuesday, June 12, demanding their money back. Dipesh Bhagtani, one of the directors of the firm, is in judicial custody in a case for allegedly cheating homebuyers.
The protesters said 2,500 people have incurred a loss of over Rs 500 crore. One of the projects, Savannah, in Kanjurmarg (E) was launched in 2014. The builder allegedly promised the buyers to return the money along with 15% interest on the failure of delivery of flats within 24 months. The victims have already filed an FIR with the police.
Another group of purchasers has dragged the builder to court. Dipesh Bhagtani was jailed soon after. However, the protesters said they are still in the dark about how the police case is progressing. They also demanded action against two other directors, Mukesh and Laxman Bhagtani, who have left the country with their family members and are suspected to be in Dubai.
Following reports about cases against the builder, a few homebuyers launched a WhatsApp group for those have been duped by the firm. Nirmala Rao, a victim, said, “They have not even applied for the approval of the projects. It is clear that they have no intention of returning our money.” After the protest, a delegation went to Mantralaya with a petition, but as the CM was not available, they returned after seeking an appointment with him later. The accused were not unavailable for comment and their mobile phones were found disconnected.