In a significant development in the controversial Pune land transaction, the state Industries Department has cancelled the Letter of Intent (LoI) issued to Amadea LLP for the purchase of a 40-acre land parcel in which Deputy Chief Minister Ajit Pawar’s son, Parth Pawar, holds a 99% stake. The LoI, issued by the District Industries Centre (DIC), Pune, had allowed the firm to register the sale deed by paying a token stamp duty of Rs 500 instead of the applicable Rs 21 crore.
Failure To Meet Conditions Cited
Sources said the cancellation order cited Amadea LLP’s failure to fulfil stipulated conditions within the prescribed timeframe, rendering the LoI invalid. The Industries Department had issued the LoI in April 2026, following which the land deal was registered at the Pune sub-registrar’s office in May.
Questions Over Legal Validity
The land parcel, located in Pune’s upscale Mundhva area, was purchased for Rs 300 crore and is estimated to be worth over Rs 2,000 crore at current market rates. Under state policy, stamp duty exemptions are available only to firms proposing data centres or allied activities under the Software Park policy, subject to state government approval. In this case, the LoI was issued at the district level, raising questions about its legal validity.
Political Responses And Denials
After the controversy surfaced, Industries Minister Uday Samant denied any role of his department in the matter. Deputy Chief Minister Ajit Pawar also denied involvement, stating that his son Parth was unaware of the legal implications of the transaction. Pawar later announced that the land deal had been scrapped.
Collector Moves Court Over Ownership
Separately, the Pune district collector’s office has approached a local court seeking cancellation of the transaction, claiming the land belongs to the state government and not to the individuals who claimed ownership. The land, classified as ‘Mahar Vatan Land’, was later vested with the state.
Legal Route To Avoid Stamp Duty Penalty
The original tenants had appointed Sheetal Tejwani as their power of attorney, who executed the deal with Amadea LLP. Amadea LLP and Tejwani have also moved the Pune court seeking cancellation of the sale deed. Sources said the legal route is being pursued to avoid paying the Rs 21 crore stamp duty along with the mandatory penalty applicable if cancellation is done through the registrar’s office. Despite notices from Pune authorities, neither the buyer nor the seller has formally approached the registrar to cancel the sale deed so far.
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