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The two were arrested by the Economic Offences Wing last Thursday for duping 34 home buyers of ₹11 crore.

Both directors have been held on complaints of 34 homebuyers who have not got possession of homes they booked in the projects of Nirmal Lifestyle.

The complaint states that homebuyers made booking for flats in 2011 and paid the amount for the same, however, neither the project began nor were they given possession of any house

The 34 flat owners had paid for houses in three projects called Olympia, Panorama and Spirit, more than a decade back in 2011.

The buyers had paid under Rs 20 lakh each so far. MUMBAI: Is the development manager who signs an agreement with a builder for exclusive rights to sell flats liable to pay compensation to the buyer in case of delay or does liability rest only with the builder? A RERA order on March 5 said both were liable in a Mulund project, reports Swati Deshpande. MahaRERA directed the development manager, a subsidiary of Shapoorji Pallonji Group, and Nirmal Developers, to refund the money paid by four flat purchasers with 9% interest for delay in construction and possession of flats. MahaRERA member B ...