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In August, the Pioneer Cooperative Housing Society (CHS) located in Panvel, India, lodged a formal complaint with the local police, bringing to light a disturbing incident. They revealed that an astonishing six out of their ten flats had been fraudulently sold and registered without their knowledge or consent. This shocking revelation uncovered a major property scam, totalling a significant value of Rs 4 crore. The authorities have been diligently investigating the matter for the past two months. Recently, a prominent Mumbai builder has been apprehended in connection with this alleged scam.
In a significant development, the Panvel city police team apprehended Suresh Bhatade, a Mumbai-based builder, on Friday, bringing an end to a two-month-long manhunt. Bhatade, along with three other builders, stands accused of a massive cheating scheme involving the alleged unauthorized sale of six flats collectively valued at Rs 4.3 crore. Advertisement
The investigation was initiated following a complaint lodged by Pioneer CHS in Panvel in August. Disturbingly, six out of their ten flats were surreptitiously sold and officially registered without the knowledge or consent of the cooperative housing society.
The other trio of builders involved in the case pre-emptively sought bail from the sessions court in Panvel. These builders had been engaged in a redevelopment project for the CHS since 2014, but their actions have come under scrutiny due to the occupation of flats without obtaining the necessary occupancy certificate from the Panvel City Municipal Corporation (PCMC).
The saga began in September 2012 when Pioneer CHS entered into a redevelopment agreement with Akshay Developers in Panvel, with Sunita Joshi (a retired assistant commissioner of income tax) and the late Nirmala Shah as partners. Construction commenced in 2014. Joshi and Shah later formed a partnership with Mumbai-based builders Suresh Bhatade and Bhavesh Jain.
The Pioneer CHS, which initially had 46 flats, saw a transformation during the redevelopment, culminating in a twelve-story high-rise with 96 flats and nine shops. A supplementary agreement in October 2015 outlined that the Pioneer CHS would retain ten of the newly constructed flats.
However, suspicions arose when Gangaram Samant, the treasurer of Pioneer CHS, filed a police complaint accusing the builders of illegally selling six flats (comprising five 2-BHK and one 1BHK unit) in July 2022 and March 2023. Allegations also surfaced regarding the builders' failure to pay rent that was due during the redevelopment, discrepancies in carpet area measurements, the absence of an occupancy certificate, and the unregistered status of flats belonging to earlier members.
Initially charged with cheating, criminal breach of trust, and common intention under the Indian Penal Code, the accused now also face charges under IPC section 409 (involving the sale of property belonging to others while breaching trust) and various sections of the Maharashtra Ownership of Flats Act-1963.
The anticipatory bail applications of Joshi and Jain are currently under review by an additional sessions court, with Judge KG Paldewar presiding. The court is expected to revisit their pleas later this week.
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