Real Estate Firm Faces Allegations Of Fraud Over Unfulfilled Office Space Agreement
Pune: In a recent development, a case of fraud has been registered against B.U. Bhandari M&M Realtors LLP Company at the Sinhagad Road Police Station. The complaint, filed by Naresh Ramchandra Mittal, alleges that the company failed to deliver on a Memorandum of Understanding (MoU) signed for the provision of four offices and four covered parking spaces on the fifth floor of a planned building in Kharadi.
The incident, which occurred on October 31, 2020, at Mittal’s office in Vadgaon, involves a complaint stating that an amount paid for the booking was not returned with interest, resulting in a fraudulent transaction of 2 crores and 16 lakhs. The case has been registered under IPC 406, 420, and 34 against Rajnish Maniklal Bhandari, Anuj Maniklal Bhandari, and their firm, B.U. Bhandari M&M Realtors LLP Company.
According to the police, the planned building at Survey No. 39/2, 39/2 (New Survey No. 39/3) in Kharadi was constructed by the aforementioned company. The MoU was signed at Mittal’s office, specifying the allocation of 2,511 square feet of office space (numbered 3, 5, 6, and 7) on the fifth floor, along with four covered parking spaces.
After the agreement was signed, Mittal reportedly paid 1 crore, 4 lakh, and 5 thousand rupees. However, the promised office space was not provided. Mittal’s complaint alleges that the company engaged in financial fraud by withholding the agreed-upon amount with interest, resulting in a loss of 2 crores, 16 lakhs, and 50 thousand rupees. Senior Police Inspector Abhay Mahajan is leading the ongoing investigation into the matter.
