A city-based builder has been arrested for failing to hand over possession of a flat to a buyer, a senior police official said today.
Niranjan Vaid was arrested on Sunday and produced yesterday in a local court which granted him bail, he said.
He was booked under IPC sections 406 (criminal breach of trust) and 403 (dishonest misappropriation of property) as well as relevant sections of the Maharashtra Ownership Flat Act on a complaint filed by the flat buyer, the official said.
As per the complainant, a resident of suburban Bhandup, he had bought a flat from the developer, but the realtor failed to transfer the ownership of the same to him even after seven years, he added.
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