India, May 20 -- The Nirmalnagar police have registered a cheating case against builder Vaman Ramchandra Madye for allegedly defrauding a developer of around Rs.11.5 crore. He reportedly sold 19 flats in a Slum Rehabilitation Authority (SRA) building in Bandra without authorisation and diverted the proceeds to his own company account, police said. The case was transferred to the Economic Offences Wing (EOW) on Tuesday.

Police said complainant Basantraj Meghraj Sethia, 61, a builder from Vile Parle, entered into a joint development agreement with Vaman Ramchandra Madye, the accused, in 2010 for the construction of Vishal Ashiana which is an SRA building in Nirmalnagar.

According to the FIR, the two formed a joint entity, M/s Swaraj Assoc...