The case relates to alleged investments made by actor Jaaved Jaaferi, his wife Habiba Jaffrey, their relatives and several other individuals in a proposed redevelopment project in Bandra West. Investigators claim the investors were promised lucrative returns and commercial spaces in the redevelopment project but were instead deceived through forged documents and false assurances.

Police officials stated that Habiba Jaffrey first came in contact with Mahesh Patil in April 2024 while visiting his BMC office regarding a tax-related matter. During the interaction, Patil allegedly informed her about an investment opportunity connected to a Bandra property project and advised her to route the investment through Nishit Patel.

According to investigators, Patel subsequently made multiple visits to the Jaffrey family’s residence and presented layouts, maps and project-related documents to gain their confidence. He allegedly persuaded the family to invest substantial sums in exchange for commercial space in the proposed redevelopment.

Crime branch officials have alleged that forged letters purportedly issued by a private bank, along with other fabricated documents, were used to convince investors about the legitimacy of the project.

The property cell of the Mumbai Crime Branch had earlier arrested Nishit Patel for his alleged role in the case. Authorities claim that nearly Rs 16.24 crores was collected from Jaaved Jaaferi, his family members and other investors through misleading representations linked to the redevelopment project.

Investigators also suspect that the alleged fraud may have impacted several prominent individuals. Police sources stated that retired police officers, civic officials, artists and retired judges were among those who allegedly invested amounts ranging from Rs 50 lakh to Rs 20 crores after being promised attractive returns.

The alleged fraud reportedly came to light in July 2025 when some of the complainants visited the Bandra registration office to verify project-related documents. During the verification process, they allegedly discovered that one of the agreements shown to them did not exist in official records.

Also Read: Jaaved Jaaferi calls Shammi Kapoor, Prabhu Deva and Hrithik Roshan his dance idols

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