India, Nov. 19 -- The Economic Offences Wing (EOW) of the Thane Police has registered a case against the partners of real estate firm Ekdant Housing for allegedly defrauding approximately 200 investors. While the initial complaint cites a fraud of over Rs.100 crore, the police suspect the amount could reach Rs.300 crore.

The accused, identified as Hasmukh Surji Shah and Ashok Visanji Pasad, were booked following a complaint filed by Girish Amrutlal Dedia, an investor who claimed he was defrauded, at the Naupada Police Station on November 14.

Both accused were booked for criminal conspiracy, criminal breach of trust, and fraudulent default by a financial establishment under relevant sections of the Bharatiya Nyaya Sanhita and the Maharas...