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FIR against Pune realty firm for cheating landowner of ₹2 cr
The project was initiated by the partners who carried out flat transactions without informing the landowner which was a mandatory clause in the agreement between the two parties, said police
Khadak police have lodged a First Information Report (FIR) against EH Realty LLP construction company for cheating a landowner for ₹2 crore. The incident took place between December 16, 2022 and June 6, 2024.
According to the FIR lodged on June 6, the complainant Pravin Manilal Sanghvi (58), a resident of Timber Market, Bhavani Peth stated that he had signed a development and power of attorney agreement for the development of the property located in Wagholi with the partners of the real estate company.
The project named ‘ The Trinity ’ was initiated by the partners who carried out flat transactions without informing the landowner which was a mandatory clause in the agreement between the two parties.
It was decided to deposit the amount into an escrow account jointly opened in the name of the landowner and the developers. The partners broke their promise by not opening the said account and started Phase II work despite Phase I not being completed.
They even mortgaged the land with a private firm and took a loan of ₹35 crore against the property in violation of the laid down terms and conditions.
The accused even took more money from the customers than the decided rates and cheated Sanghvi.
Senior police inspector Ravindra Gaikwad said that a case has been lodged against the partners of the real estate company for breaching the terms of agreement of the contract.
“At the same time, the accused sold the flats at higher rates, took advance money and even started phase II work without intimating the landowner as per the agreement and cheated him for ₹2 crore,” he said.
The police have invoked 406 and 420 sections of the Indian Penal Code (IPC) against the accused. No arrests have been made so far.
