In a first, MahaRera acts on financial irregularity

The economic offences wing of the Mumbai police is investigating Highstreet Paramvir Developers for financial irregularities following a complaint from the Maharashtra Real Estate Regulatory Authority. The irregularities relate to a project in Khar and were uncovered during a forensic audit. This is the first time the real estate monitor has taken action against financial irregularities. The audit revealed various irregularities, including misuse of funds, failure to submit progress reports, and construction of unsanctioned floors. The developer's lawyer declined to comment.

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