Ahmedabad: Nearly 50 homebuyers have alleged that they were duped of Rs 12.4 crore after a residential project in Shela was abruptly shut down despite collecting booking amounts and executing preliminary agreements.

The 14-storey scheme, Akshar Anant, was launched under the banner of Keshav Narayan Group. Buyers claim they were persuaded to invest in flats and shops with assurances of timely possession and legal documentation. Memorandums of Understanding (MoUs) were signed with several purchasers, while only a handful were provided with registered sale agreements.

However, after collecting substantial sums, the developers allegedly halted the project without notice, leaving dozens of families in financial distress.

One of the complainants, Umesh Sohlaiya, a resident of Gota, stated that in 2024 he was approached by broker Yogesh Thakkar, who introduced him to the project promoted by Ronak Sonani and Vipul Gangani. Trusting the representations made to him, Umesh, along with his friends Alpesh Maniya and Chirag Sutariya, booked 2BHK flats and paid the booking amounts. A notarised agreement was executed in the name of Keshav Narayan Group.

The buyers allege that whenever they sought execution of registered sale deeds, the broker and promoters cited repeated excuses and delays. It later emerged that a total of Rs 12.4 crore had been collected from 47 individuals through booking amounts and agreements before the scheme was discontinued.

Adding to their shock, the land associated with the project was allegedly sold to other individuals, effectively extinguishing the buyers’ hopes of securing their homes.

Investigations have revealed that multiple companies were allegedly floated under the Keshav Narayan Group name, raising suspicions that several investors may have been targeted in a similar manner.

Based on complaints from affected buyers, Bopal police have registered a case against seven accused, including Vipul Gangani, Ronak Sonani, Yogesh Thakkar, Krunal Parikh, Paurav Patel, Diprajsinh Zala, and Mahendrasinh Chudasama.

Police have arrested one of the accused, while some of the others are already lodged in jail in connection with previous cheating cases. Authorities are continuing their probe as more victims are expected to come forward. DeshGujarat