Govani, alongside Shivam Parivar Developers and its directors, deceived the investors with false promises of high returns in a real estate project that saw no progress.

MUMBAI: Kamala Mills Owner Ramesh Govani has been booked in a fresh case of cheating along with the directors of Shivam Parivar developers on the complaints of an investor company which accused them of cheating the company to the tune of Rs 23 crores.
The EOW had arrested Govani last year for allegedly defrauding a businessman of Rs 67.5 crores. In August the Session court which granted bail to Govani held that prima facie an offence of cheating is not made out against him.
The NM Joshi Marg police have last month registered an fresh FIR against Govani, Shivam Pariwar Developers and its directors Ajit Bhosle, Pramod Bhosle and Sanjay Bhosle following order under CrPC 156(3) by the Metropolitan Magistrate’s 13th Court, Dadar.
The case was filed by Vyoman Infrawest Pvt. Ltd. and Vyoman India Pvt. Ltd., which claim that Govani and the directors of Shivam Parivar Developers Pvt. Ltd. misled them into investing in a real estate project under false promises of high returns. Lalit Puthran an official of Vyoman alleged that Govani, along with directors of Shivam Parivar Developers Pvt. Ltd.,in 2013 lured them into investing in a real estate project in Patel with false promises of high returns. The project was expected to be completed within 3-4 years, offering significant returns but there was no progress in development.
According to the complainants, in 2013, Govani convinced them to invest in a redevelopment project at Parmar Guruji Marg, Parel. He claimed that the project was backed by Shivam Parivar Developers Pvt. Ltd., assuring that the investors would receive prime space in the upcoming construction at a concessional rate.
Believing these assurances, the complainant company invested ₹23 crores, with the expectation that the project would be completed within 3 to 4 years. However, in 2018, when the complainants requested investment-related documents, Govani and his associates failed to provide them.
A physical inspection of the project site revealed that no significant construction had taken place. Despite repeated attempts to seek clarification, the accused avoided meetings and provided vague responses.
In 2020, the BMC extended the project deadline to December 2021, but there was still no progress on the development. Realizing they had been deceived, the complainant lodged a complaint with the police but police refused to take cognition after which the complainant filed a private complaint. The Court directed the police to register a case under CrPC 156(3) and conduct a full-scale investigation into financial misappropriation.