Former corporator, 4 others booked for cheating homebuyers in Pune

PUNE: Rushikesh Chandrakant Zhagade, former corporator of Pimpri Chinchwad Municipal Corporation (PCMC); Santosh Dhadge and their three partners from Sai Associates were booked by the police on Monday night for allegedly cheating BVG company director Dattatraya Gaikwad

PUNE: Rushikesh Chandrakant Zhagade, former corporator of Pimpri Chinchwad Municipal Corporation (PCMC); Santosh Dhadge and their three partners from Sai Associates were booked by the police on Monday night for allegedly cheating BVG company director Dattatraya Gaikwad.

During the investigation, it emerged that the housing fraud was running into hundreds of crores with around 40-50 people being cheated so far. (REPRESENTATIVE IMAGE)

The Chakan police booked Dhadge, Rushikesh, Ganesh Laxman Zhagade, Yogesh Chandrakant Zhagade, and Ravindra Rajaram Dhadge, all from Chakan, under Sections 420, 406, 34 of IPC and Sections 3 and 4 of the Maharashtra Protection of Depositors’ Interests Act.

During the investigation, it emerged that the housing fraud was running into hundreds of crores with around 40-50 people being cheated so far. A fresh case was registered by Gaikwad. Police said Rushikesh is a partner in Sai Associates, which had floated a residential project “Swapnagari Gruhprakalp” in Chakan.

In 2011, Gaikwad had booked 70 flats in this residential complex for ₹7 crore and made payment of ₹2.61 crore in advance.

In his complaint, Gaikwad told that as promised Zhagade failed to give possession of 70 flats in 2015. Hence, a fresh agreement was signed by both parties. As per the agreement, Zhagade had to give immediate possession of 35 flats and refund token amount Rs. 2.61 crore to Gaikwad.

Gaikwad in his complaint alleged that, till 2019, Zhagade neither handed over a single flat nor retuned the token amount. Hence, in 2019, again a fresh agreement was made, according to which Zhagade had to pay ₹2.61 crore (token amount) along with ₹6 crore as compensation amount as he failed to complete the project. Gaikwad had agreed to accept post-dated cheques from Zhagade.

However, in 2020, the cheques were returned from the bank. When the complainant contacted Zhagade, he asked not to deposit cheques in bank and he assured to return money. Frustrated with his false commitment, on Monday (June 26), Gaikwad lodged a police complaint against Zhagade and his partners in Sai Associates.

Gaikwad, “Builder failed to complete the project on time. When we had cancelled the deal, he failed to return money hence we have lodged a police complaint under the MIPD act.’’

Inspector S Devad said, “We have received many complaints against the builder and the housing fraud is running into hundreds of crores. We are confident that many more people who are cheated by the builder will come forward to file case against him.’’