Police Investigates Kamala Mills & Shivam Parivar Directors for Rs. 23 crore Cheating Case

A substantial case of financial fraud, amounting to Rs. 23 crore, has been filed against Ramesh Govani, the owner of Kamala Mills, and several directors of Shivam Parivar Developers.

The legal action was initiated following a complaint lodged by two companies, Vyoman Infrawest and Vyoman India, and subsequently ordered by a magistrate court in Dadar.  Also implicated in the First Information Report (FIR) are Ajit Bhosle, Pramod Bhosle, and Sanjay Bhosle, all serving as directors within Shivam Parivar Developers. The complainants allege that back in 2013, Govani and the Shivam Parivar Developers directors lured them into investing in a redevelopment project situated on Parmar Guruji Marg in Parel.

The developers enticed the companies with promises of substantial returns on their investment, specifically guaranteeing prime commercial space within the new development at discounted rates.

The project, spearheaded by Shivam Parivar Developers, was initially projected for completion within a three to four-year timeframe.

However, the promised timeline elapsed without any tangible progress.  In 2018, the investors, growing increasingly concerned, requested documentation pertaining to their investment.

Govani and his associates allegedly failed to furnish these crucial documents, raising serious suspicions about their intentions.  The situation further deteriorated when, in 2020, the Brihanmumbai Municipal Corporation (BMC) granted an extension to the project deadline, pushing it to December 2021.  Despite this extension, the development remained stagnant.

Finally realizing they had been victims of a deceptive scheme, Vyoman Infrawest and Vyoman India filed a complaint with the police.  However, law enforcement officials reportedly declined to acknowledge their complaint.  Left with no other recourse, the aggrieved companies pursued a private complaint, which was finally registered in December 2024, ultimately leading to the current FIR and investigation.