Archive · 17 Sep 2025
Mumbai Builder Booked for ₹16.49 Crore Bank Fraud
Imagine a builder named Paras took a loan from a bank to build apartments.
To make sure the bank would get its money back, Paras promised the bank the apartments as collateral.
However, Paras sold these apartments without telling the bank or paying back the loan.
The bank found out and filed a complaint, accusing Paras of fraud.
He took a loan to build a project, but instead of using the money correctly, he sold the properties.
The police are now investigating, and the case has been transferred to a special unit that handles financial crimes.
The total loss to the bank is a large sum of money.
Paras Dedhia is accused of defrauding Axis Bank of ₹16.49 crore.
Dedhia allegedly sold 18 flats and an office unit mortgaged with Axis Bank.
Properties were sold without bank's consent or repayment of the loan.
The Chembur Police filed a case, which was then transferred to the EOW.
A complaint was filed by an Axis Bank official regarding the fraud.
- Who
- Paras Dedhia of Yash Builders Construction
- What
- Is accused of defrauding Axis Bank by selling mortgaged properties without permission.
- When
- The fraud occurred between 2015 and 2018. Initial complaint lodged August 20, 2024.
- Where
- Mumbai, India.
- Why
- Dedhia sold properties mortgaged to Axis Bank without proper clearance and did not repay the loan.
- Suspect
- Paras Sundarji Dedhia (Yash Builders Construction)
- Accusation
- Defrauding Axis Bank
- Amount
- ₹16.49 crore
- Action
- Selling mortgaged properties without NOCs
- Properties Involved
- 18 flats and office unit
- Bank Involved
- Axis Bank
- Case Status
- Transferred to Economic Offence Wing (EOW)