Pune: 74 Year Old Trader’s Flat Fraudulently Mortgaged For ₹2.82 Crore; Real Estate Broker, Accomplice Under Investigation
Pune: 74 Year Old Trader’s Flat Fraudulently Mortgaged For ₹2.82 Crore; Real Estate Broker, Accomplice Under Investigation
Pune, May 15, 2025 — Kalepadal police have launched an investigation following a complaint by a 74-year-old businessman who alleged that a real estate agent and a woman accomplice fraudulently mortgaged his flat to secure loans amounting to ₹2.82 crore.
According to the FIR registered on May 13, complainant Ashok Nopany, a resident of NIBM road, accused a Katraj-based broker and a woman from Jaysingpur in Kolhapur district of forging documents related to his 3BHK apartment in Gahunje. These forged papers were allegedly used to obtain substantial loans from two nationalized banks in Mumbai and Pune.
Nopany claimed the flat —jointly owned by him and his daughter and still in their possession—was used without their consent to secure loans of ₹1.42 crore and ₹1.40 crore from the respective banks. He further stated that bank officials approved the loans in late 2022 without proper verification, suggesting potential collusion.
As per the complaint, the accused duo created a bank account in Nopany’s name at a cooperative bank in Akurdi and directed the disbursed loan amounts into it. The two banks have since initiated proceedings with Debt Recovery Tribunals (DRTs) in Mumbai and Pune, seeking possession of the flat as collateral for the unpaid loans.
To prevent the property from being auctioned, Nopany obtained a stay order from a civil court in Wadgaon Maval.
Police investigations revealed that the broker had approached Nopany in August 2022, posing as a potential buyer for the Gahunje flat. A deal was proposed at ₹1.95 crore. Before finalizing the sale, the broker convinced Nopany to sign a sale agreement with the woman, introduced as his “sister,” under the pretext of expediting a loan process.
The fraud came to light in March 2024 when bank representatives arrived at Nopany’s housing society in Gahunje to post auction notices. Upon legal investigation, Nopany discovered that the woman had used photocopies of the original property documents to forge new ones and secure the loans. One of the banks reported that the forged documents were later used to transfer the sale agreement in favor of the broker.
Shortly after, a second bank also issued a notice for unpaid dues, bringing the total fraudulent loans against the flat to ₹2.82 crore. Nopany emphasized that neither bank had conducted standard verification or contacted him prior to loan disbursement.
Assistant Police Inspector Amit Shete confirmed that a case has been registered under multiple charges, including cheating, criminal breach of trust, forgery of valuable security, and use of forged documents under the Bharatiya Nyaya Sanhita (BNS). Both accused are currently absconding.
While the banks have not yet filed criminal complaints, they are actively pursuing property possession through the DRTs. The police plan to request detailed reports from the banks outlining the procedures followed during loan sanctioning.
