The Mundhwa police on Tuesday arrested three directors of Phadnis Properties Limited for allegedly cheating more than 30 buyers in a housing project at Keshavnagar. Cops had already arrested Vinay Phadnis earlier in connection with investment fraud. On Tuesday, Anuradha Phadnis, Sharayu Thakar and Bhagyashri Gurav were booked for cheating under the Maharashtra Ownership Flats (Regulation of the promotion of construction, sale, management and transfer) Act, 1963 (MOFA). The sessions court had recently rejected the anticipatory bail application of the three accused.
Vinay, wife Anuradha, and other associates are facing charges of leaving home buyers in the lurch by abandoning a project — Eastern Rangers — despite collecting full payment.
Kharadi resident Rahul Dudhe is among the affected home buyers and lodged a complaint with the police. According to his complaint, he booked a 2BHK terrace flat worth over Rs 46.59 lakh on the seventh floor of the building, after depositing a cheque of Rs1 lakh on August 27, 2012. The builder had assured possession of the flat by November 30, 2014. Dudhe later deposited Rs 4.5 lakh with Phadnis and entered into an agreement for sale on September 28, 2012. The agreement was signed by Anuradha at the sub-registrar’s office. Dudhe then obtained a housing loan of Rs 40 lakh from an insurance firm in October 2012 and deposited cheques of varying amounts, totally worth Rs 33,72066, with the builder. However on visiting the construction site, he found that work was not progressing and the flat was not delivered to him on time.
Elaborating on the case, assistant public prosecutor Kiran Bendbhar said, “The complainant and others who had booked the flats kept the agreement of sale as mortgage in the bank and took loans. They deposited a total of Rs12,59,44,292 in the company accounts. The investigation revealed that the accused have taken a loan of Rs 93 crore from Union Bank of India for the project and have to repay Rs 11,792.95 lakh. The accused have misappropriated the amount taken from the consumers.”
The court granted police custody of all three accused till November 17.