Mumbai: The Vikhroli police have registered a case of alleged fraud worth Rs2.2 crore against Rajendra Babulal Kumar for allegedly cheating a man under the pretext of purchasing his house and using the property documents to secure a bank loan.
Complainant Had Put His Vikhroli House Up for Sale Due to Financial Crunch
According to the c, the complainant, Mohammed Nasim Rais Hashmi, 49, resides with his family at Ashoka Tower in Firozshah Nagar, Vikhroli East. Hashmi runs a business manufacturing wooden boxes for gold jewellery. Due to financial difficulties, he had put his house up for sale.
In August 2025, Hashmi came in contact with Rajendra Babulal Kumar, 41, who is involved in the auto parts export business and resides at Unwala Building on D.N. Singh Road in Mazgaon. Kumar allegedly expressed interest in buying the house but claimed he did not have the money immediately. He proposed that if the property was transferred to his name, he would secure a loan of Rs2.20 crore against it and pay the full amount to Hashmi as the purchase price.
Victim Executed Sale Deed in September After Trusting Accused
Trusting Kumar, Hashmi appeared at the registration office in Vikhroli East on September 26, 2025, and executed a sale deed in Kumar’s name after obtaining a power of attorney from his mother, Jamila Begum Shaikh, who was the property owner. Later, a deed of rectification was also registered on November 21 at the same office.
Police said that although Kumar had allegedly paid only Rs13 lakh to Hashmi, the sale deed mentioned that Rs2.2 crore had been received. The amount was shown in the document at Kumar’s request so that he could secure a loan, with the assurance that the loan proceeds would be handed over to Hashmi.
As part of the alleged transaction cycle, Kumar transferred Rs2,16,75,000 to Hashmi’s Axis Bank account via RTGS between September 26 and November 13, 2025, and also gave Rs25,000 in cash. Hashmi then transferred Rs1.07 lakh to the bank account of Kumar’s associate, Shyamrao Shankarrao Shinde, and Rs97,25,000 to the account of another associate, Sachin Shrikant Hejib, between October 17 and November 13.
Associates Allegedly Sent Funds Back to Accused's Account
Investigators said that Shinde, Hejib and another person, Narayan Bindeshwar Jha, allegedly transferred the funds back to Kumar’s bank account, completing what police suspect was a circular transaction designed to show a legitimate payment trail.
Using the sale deed, Kumar later mortgaged the property with Cholamandalam Finance in CBD Belapur, Navi Mumbai, and secured a loan of Rs1.97 crore on November 20, 2025. The loan was allegedly taken in the names of Kumar and his wife, Chetana Devi.
However, Hashmi alleged that Kumar never paid him the agreed sale amount. Instead, after obtaining the loan, Kumar allegedly began threatening and abusing him, demanding that he vacate the house and hand over possession, claiming ownership of the property.
Associates and Wife Named as Accused in Fraud Case
Hashmi has also alleged that Kumar’s associates Shyamrao Shinde, Sachin Hejib, Narayan Jha, and Kumar’s wife Chetana Devi were aware of the alleged fraud and assisted him. He has requested the police to investigate their roles as well.
Based on the complaint, the Vikhroli police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and have initiated further investigation.
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