The Criminal Investigation Department (CID) has arrested Sushil P Mantri and his son Pratik Mantri in connection with two cases registered against them at the Cubbon Park police station in 2019.
Sushil Mantri is the Chairman and Managing Director of Mantri Developers Private Limited, a leading property development company headquartered in Bengaluru.
According to sources, the CID detained the father and son late on Friday night and produced them before the magistrate on Saturday. The court has remanded them in judicial custody until September 12.
On Monday, the CID may request the court for permission to question the Mantris in custody.
The CID started investigating the cases registered at the Cubbon Park police station after they were transferred to it. A total of six FIRs were registered in July 2019 under cheating, criminal breach of trust and other IPC sections. Some of these cases have been quashed, the sources said.
According to the complainants, Mantri Developers cheated them by collecting money from them on the promise of selling them flats under various schemes.
Sushil was previously arrested by the Enforcement Directorate (ED) for money laundering. The agency also attached immovable assets worth Rs 300.4 crore belonging to the Mantri Group by issuing a provisional attachment order under the Prevention of Money Laundering Act. The ED case is also under investigation.