Mumbai Police Seize Rs.77 lakh Cash From Arrested Builder

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MUMBAI: The Azad Maidan Police have seized more than Rs 70 lakh in cash from builder Pujit Aggarwal from his office who are now investigating the source of the money. It is alleged that Aggarwal kept his investors in the dark about his loan with the LIC HFL and was arrested earlier this month when some of the investors approached the police. A large amount of cash was recovered by the Azad Maidan Police while conducting a search of the Orbit Corporation Ltd office in Worli, sources told. The searches were being conducted as part of the Police’s investigations to find out where Aggarwal utilized Rs 82 crore from the Rs 260 crore that he borrowed from LIC HFL, as only Rs 178 crore have been found to have been used in the construction of Orbit Residency Park. “We have taken a total of Rs 77 lakh in cash into our which were found during our search in Aggarwal’s office on Monday, Senior Police Inspector Mr. Vijay Kadam, Azad Maidan Police station confirmed the incident. Further inquiries are going on, Mr. Vijay Kadam said. On Tuesday Aggarwal’s Police custody expires after which he will be produced in court.]]>

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