Today in New Delhi, India
Oct 17, 2018-Wednesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Dubai-based businessman, bank duped of Rs 2.36 crore in Pune

Three persons were booked by the Kondhwa police who made use of the papers to secure a bank loan against the real estate. However, in order to secure the loan, the three forged papers showing income tax returns for the year 2012-2013 and submitted it to the bank. The forged papers resulted in unpaid loan of Rs 1 crore, the police said.  

pune Updated: Feb 10, 2018 22:13 IST
HT Correspondent
HT Correspondent
Hindustan Times, Pune
Pune,Kondhwa police,Dubai-based businessman
The three lured a man identifeid as Sunil Sathe, a Dubai-based Indian, into investing Rs 1 crore in a land deal in Velha region of Maharashtra.(HT REPRESENTATIONAL PHOTO)

Three persons were booked by the Kondhwa police for allegedly cheating a man and a bank, collectively for Rs 2,36,00,000. The three were identified as Tejas Deshpande, Madhvi Bhagwat and Ravi Kulkarni, according to assistant police inspector (API) SC Tasgaonkar of Kondhwa police station who registered the case.

The three lured a man identifeid as Sunil Sathe, a Dubai-based Indian, into investing Rs 1 crore in a land deal in Velhe region of Maharashtra. The three made Sathe believe that the deal will bear him returns four times his investment, according to the police. Sathe invested Rs 1,36,00,000 in the land.

Furthermore, they also promised to make Sathe's son, Udit Sathe, a director in a company called Clear Deal Market Private Limited. However, Sathe had to hand over the papers of two of his flats in Pune to the three in order to make Sathe's son the director of the said company. One of the flats was located in Rahul Park in Warje while the other is Lilium Building of Nyati Exotica in Mohammedwadi region of Pune, according to the police.

The three made use of the papers to secure a bank loan against the real estate. However, in order to secure the loan, the three forged papers showing income tax returns for the year 2012-2013 and submitted it to the bank. The forged papers resulted in unpaid loan of Rs 1 crore, the police said.

A case under Section 420 (cheating and dishonestly inducing delivery of property), 406 (criminal breach of trust), 465 (forgery), 468 (ofrgery for purpose of cheating) and 34 (common intention) of Indian Penal Code (IPC) was registered at Kondhwa police station against the three. While the complaint in the matter was filed by Rekha Joshi, 38, a resident of Sadashiv Peth, the investigation in the case will be done by assistant police inspector (API) Atul Sonawane.

“Rekha is a friend of Sathe and has the power of attorney. When we checked the income tax documents submitted to the bank, we realised that the tax returns were not filed that year and neither was the tax paid. The tax returns documents were forged,” said API Tasgaonkar.

First Published: Feb 10, 2018 22:11 IST