The Economic Offences Wing (EOW) has registered a case against Mansukh Shah and his son, Akash Shah. They are accused of inducing a businessman to invest ₹5.15 crore in a redevelopment project. Through a Memorandum of Understanding (MoU), they promised high returns and falsely claimed to possess development rights over a property in Malad; however, they subsequently allegedly failed to fulfill the terms of their contract.

Mansukh and Akash Shah had approached the Sessions Court seeking anticipatory bail. Both had moved the High Court in an attempt to evade arrest. The complainant-investor, represented by advocates Abad Ponda and Suvarna Vast, strongly opposed this application. They argued that granting relief in this instance—while their bail application was already pending before the Sessions Court—would set a wrong precedent.

This case stems from an FIR regarding fraud, which was initially registered against Shah Housecon at the Kasturba Marg Police Station. The matter was subsequently transferred to the EOW for further investigation.

According to the FIR, a Term Sheet was signed on May 6, 2025, followed by an MoU on May 17, 2025, and a Supplementary MoU on July 16, 2025. These agreements were executed for the development of a 5,600-square-meter plot, which included a proposed sale component of 4.5 lakh square feet.

Shah Housecon failed to complete critical redevelopment activities, such as evicting occupants, establishing clear title, and coordinating with relevant stakeholders. The Complainant further alleged that misleading information was provided regarding the land's development rights, as the ownership of the land reportedly vested with a charitable trust.

The complainant also alleged that the accused entered into parallel agreements with other developers for the same plot, extracted substantial sums from them, and subsequently demanded an additional ₹25 crore. When this demand was rejected, threats were allegedly issued, and notices for the termination of the agreements were served.