Savla, known as 'matka' (gambling) king, and his aide Raju Dave, were arrested from their homes by the sleuths of Unit-11 of Crime Branch, he said.
The arrests were made on a complaint lodged by the builder, a resident of suburban Borivali, the official said
Savla and the builder had some dispute over construction business in Borivali. Savla and Dave signed an "MoU" with the builder in 2012 to settle the row, he said.
In 2017, Savla and his aide called the builder and cancelled the MoU. They also asked him to pay Rs 33 crore to them and threatened to kill his wife and son if he failed to make the payment, the official said.
They also forcefully took allotment letter of a shop in suburban Kandivali from the realtor and also demanded five shops in another project, he said.
The builder approached the Borivali police station and lodged a complaint against Savla and his aide, the official said.
Savla and Dave were charged with extortion and produced before a court which sent them in police custody till January 20, he said.
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