Mumbai, October 9, 2026: The Bandra Kurla Complex (BKC) police have registered a case against four persons, including representatives associated with Grand Maratha Construction and Kolte-Patil Developers, for allegedly cheating two investors of Rs 5.06 crore in connection with a residential project in Kalyani Nagar, Pune.
According to police sources, the case has been registered under Sections 420 (cheating), 406 (criminal breach of trust) and 34 (common intention) of the Indian Penal Code (IPC). The FIR was registered based on a complaint filed by Sumant Bhagwan Thakur, 44, a businessman.
The accused have been identified as Sanjay Kakade, Chandrakant Kanhaiya Boda, Ramesh Bhosale and Atul Bohra, all residents of Pune.
Promised Two Flats Worth Rs 13.95 Crore
According to the complaint, the alleged offence dates back to January 1, 2015. The accused, along with Grand Maratha Construction Private Limited, allegedly entered into an arrangement to provide two flats on the ninth floor of a project in Kalyani Nagar, Pune, to Avinash Gandhi and Amit Gandhi.
Each flat was to measure 3,818.12 square feet and include terrace parking. The total consideration for the two flats was agreed upon at Rs 13,95,54,000. The complainant alleged that the investors paid Rs 5,06,56,000 into the bank account of Grand Maratha Construction Private Limited, following which allotment letters were issued to them. However, the promised flats were allegedly not handed over to the investors.
Project Allegedly Converted Into Commercial Property
The complaint further alleges that the project was converted from residential to commercial use without the investors' consent. Despite the change in the nature of the project, the investors were allegedly not allotted any alternative property in the commercial development.
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The accused also allegedly failed to refund the Rs 5.06 crore received from the investors, thereby causing them financial losses. Based on the complainant's statement, the BKC police registered a case against the four accused and are investigating the allegations.
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