A 71-year-old Andheri resident and 17 other investors have accused two directors of Ranbir Real Estate & Developers LLP of cheating them of Rs 31.26 crore after promising them 18 per cent annual interest, paid quarterly, on their investment in a redevelopment project in Jogeshwari East.

The Andheri police have registered a case against the directors, Jaikumar Gupta and Suyash, who is his son. The complainant, Mahesh Hakimchand Doshi, owns a pharmaceutical company in Vapi, Gujarat, according to the police.