1 week ago
Mumbai EOW Registers FIR in Alleged ₹218 Crore Property Fraud
Mumbai police are investigating a complaint about property that was used as security for loans.
The property belonged to Unimers India Ltd.
and was located in an industrial area near Navi Mumbai.
A court had ordered that no new rights should be created over the property.
The complaint says an agreement was made in 2008 that gave another company rights over part of the land.
The agreement allegedly involved land measuring about 1,52,419 square metres.
The reported transaction value was ₹184.29 crore, while the complainant says the overall loss was ₹218 crore.
The Economic Offences Wing is now investigating the allegations.
The FIR names several companies, promoters and directors, but the allegations have not been established in court.
Mumbai’s Economic Offences Wing registered a case over an alleged ₹218 crore fraud involving mortgaged industrial property in Navi Mumbai.
The FIR names Unimers India Ltd., G.P. Goenka, Shrivardhan Goenka, Satya Prakash Gupta, Raheja District-3 Pvt. Ltd., Ashish Suresh Raheja and others.
Unimers India had mortgaged property in the Trans-Thane Creek Industrial Area to secure loans from IFCI and other financial institutions.
The FIR alleges that a May 14, 2008 agreement created third-party rights over about 1,52,419 square metres despite a court injunction.
The alleged transaction was valued at ₹184.29 crore, with ₹29.62 crore reportedly received through the disputed arrangement.
- Who
- The complainant is businessman Brijmohan Pyarelal Rathi; the FIR names Unimers India Ltd., its promoters and director, Raheja District-3 Pvt. Ltd., its director Ashish Suresh Raheja, and others.
- What
- The Mumbai Economic Offences Wing registered an FIR alleging that unauthorised third-party rights were created over mortgaged industrial property, causing an alleged ₹218 crore loss.
- Where
- The property is in Plot No. 2/2 of the Trans-Thane Creek Industrial Area, including land at Bhonsari, Kukset and Shiravane in Thane district near Navi Mumbai.
- When
- The disputed agreement was allegedly executed on May 14, 2008; the alleged offence continued until the FIR was registered on August 20, 2026.
- Why
- The complainant alleges that the property was already mortgaged to secure loans and that creating third-party rights violated restrictions imposed by a court injunction.
Key facts
- Investigating agency
- Economic Offences Wing, Mumbai Police
- Reported alleged loss
- ₹218 crore
- Reported transaction value
- ₹184.29 crore
- Amount allegedly received
- ₹29.62 crore
- Land involved
- Approximately 1,52,419 square metres
- Original police station
- Oshiwara Police Station
- Relevant legal sections
- Sections 318(4) and 3(5) of the IPC
Sources
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