Pune: A land owner was cheated of Rs 2 crore by a construction company by misusing the development agreement and the power of attorney (PoA). EH Realty LLP partners have been booked in this regard. The incident took place between December 16, 2022 and June 6, 2024.
Pravin Manilal Sanghvi (58), a resident of Bhavani Peth, lodged a complaint at the Khadak Police Station. A case has been registered against the partners of EH Realty LLP under sections 420, 406 of the IPC.
According to the police, the complainant owns land at Wagholi. He handed over a part of which to the accused to construct the Trinity housing project. The development agreement and the PoA were registered while handing over the land for development. It was mentioned in the deal that the land owner would be intimated before selling flats and a representative each of both sides would be present while registering the sale agreement. However, the accused sold flats by not adhering to these conditions.
An escrow account of the land owner and the developer was to be opened and money was to be deposited in it as decided. The accused did not open such an account. The accused violated the terms and conditions. They started building phase 2 even though phase 1 was not completed. The accused mortgaged the complainant’s land to Bajaj Finance and took a loan of Rs 35 crore. They did not intimate the complainant about the sale of flats in the project. The accused took more money than what was agreed for booking flats and misappropriated Rs 2 crore.
Sr PI Ravindra Gaikwad is investigating further.
