States » WestPosted at: Nov 1 2025 12:51PM


Mumbai police arrest builder over Rs 9.57 cr fraud, threats to contractor

Mumbai, Nov 1 (UNI) Mumbai Police have arrested builder Neeraj Kakad and his associate Vikas Kadam for allegedly cheating a Khar-based contractor of Rs 9.57 cr and issuing violent threats, officials said. The duo was produced before the Bandra court, which remanded them to police custody.
The complaint, filed by civil contractor Sohail Subedar, a partner in Khalifa Infrastructure LLP, stated that he was introduced to Kakad in 2020 through a mutual contact. Subedar’s firm was awarded structural and finishing work for the Naik Kakad Niwas housing project in Bandra West with completed work valued at Rs 9.57 crore, excluding GST.
According to the FIR, a Memorandum of Understanding was signed on December 24, 2020, under which Subedar was to receive Flat No. 101 measuring 1,550 sq ft worth Rs 6.51 crore as compensation. A subsequent civil contract dated March 22, 2021, recorded completed work worth Rs 7.86 crore. Subedar later agreed to a Rs 2 crore discount on Kakad’s request in exchange for either the flat or compensation through another project in Andheri.
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Tags: #Mumbai police arrest builder over Rs 9.57 cr fraud# threats to contractor
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