Pune: Promoters Of Marvel Basilo Project Charged with Fraud in Koregaon Park
Pune: Promoters Of Marvel Basilo Project Charged with Fraud in Koregaon Park
The Koregaon Park police have registered a case against four promoters, including landowners and developers of the Marvel Basilo project, following a complaint by a 79-year-old man. The FIR, filed on July 13, alleges that Sham Asnani and his daughter, Saba, were defrauded of ₹2.93 crore by the accused.
According to the FIR, Asnani and his daughter booked a flat with parking in the Marvel Basilo project, paying ₹2.93 crore via RTGS and cheques to the company’s accounts. Despite completing a registered agreement with the promoters—Vijay Wadhwa, Sanjay Chhabria, Navin Makhija, and Vishwajeet Jhawar—the company failed to finish the project within the stipulated deadline and did not pay the promised 9 percent return to Asnani.
The FIR further alleges that the promoters mortgaged the property without obtaining prior consent from the buyers, constituting a breach of trust. The fraudulent activities reportedly occurred between August 16, 2014, and November 25, 2016.
The police have charged the promoters under IPC sections 316(2) for criminal breach of trust, 318(4) for cheating, and sections 3(5), 8, and 9 of the Maharashtra Ownership Flats Act (MOFA). No arrests have been made so far. Koregaon Park police are investigating further in this case.
