Pune builder, 5 others booked in ₹6.9 crore fraud case
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Pune builder, 5 others booked in ₹6.9 crore fraud case

Police on the lookout for the accused Naresh Thakurdas Wadhwani.

pune Updated: Feb 14, 2018 15:38 IST
HT Correspondent
HT Correspondent
Hindustan Times, Pune
The accused duped the complainant of Rs.6,92,00,000.(HT File Photo)

The city police on Tuesday booked city-based builder Naresh Thakurdas Wadhwani along with five others for allegedly duping another builder and his partner to the tune of Rs.6,92,00,000.

A case under Sections 420 (cheating), 406 (criminal breach of trust) and 34 (common intention) of the Indian Penal Code (IPC) was registered against Wadhwani, owner of Mangalmurti Developers; Janabai Jaywant Kate, Suresh Jaywant Kate, Raju Jaywant Kate, Santosh Jaywant Kate and Vaishali Chandrakant Kate, at the Sanghvi police station.

The complainant, Khemchand Uttamchand Bhojwani, 53, owns a construction business in partnership with Kanhaiyalal Hemchand Matani, called MBM Construction. Five members of the Kate family sold 120 acres to a company called Om Estate on December 30, 2002 and Om Estate kept development rights for 36.3 acres while they handed over the remaining 83.6 acres to a sister company called Preet Homes.

In 2010, Bhojwani’s company (MBM construction) bought the entire 120 acres from Preet Homes and Om Estate. The payment for the land was made through cheque, according to Bhojwani's complaint. In September 2011, Wadhwani bought the land from the Kate family even though he knew that MBM construction owned the land, according to Bhojwani’s complaint.

Wadhwani, then, approached Bhojwani saying that he would compensate for the land and offered a settlement. The settlement contract was drawn on October 19, 2013. However, Wadhwani did not fulfil the terms in the settlement contract and subsequently duped the complainant of Rs.6,92,00,000, according to the complaint.

Police sub-inspector (PSI) AB Shete of the Sanghvi police station is investigating the case.

Despite various attempts, Wadhwani could not be reached for comments. Police officials said that the builder was not available in his office or residence when they went to look for him.

“We did not find Wadhwani in his house or office on Tuesday. We are looking for him,” said PSI Shete of Sanghvi police station.

First Published: Feb 14, 2018 15:37 IST