New Islam Mills
The first Spinning Mill in Parel was set up in the year 1867 by name Albert Mill and the promoter was Cassumbhoy Dharamsey. In 1883 it was taken over by Premchand Roychand and named as Parel Mills. It changed many hands as well as names and became New Islam Mills in 1903. It was functional till the year 1935 after which it was shut down and was being used as paper warehouse.
In the year 2006, the 6.5 acre Mill Land was bought by Nish Developers for re-development. This includes six 23 storied towers for rehabilitating 650 tenants and 60 storied tower.
In the year 2016 a RTI activist Vinod Mohanlal Jain, a Dadar resident alleged an Rs 2,000-crore fraud, claiming that the builder, in nexus with a few BMC officials, forged documents to procure additional FSI. Subsequently the Bandra Court ordered registration of a FIR as the developer managed to get 9.68 lakh sqft of development rights from Mhada though rules permitted only 3.22 lakh sq ft.
In the complaint Jain alleged that M/s Nish Developers and Associates, which had taken the New Islam Mill-Haji Qasam Chawl under Urban Develoment Scheme (Cluster), showed that 46 Non Cess galas existed at the said land since before 1969, and tampered and submitted forged maps in the City Survey Land Record Department, and in the year 2009 applied for permission for redevelopment. The officials at the concerned department allegedly helped the developer by approving the forged maps and documents as true copy.