The case revolves around 82-year-old Mohan Gangaram Narang, the original allottee of flat No. A-1/62/2 in the A-1 Type Apartment Owners Association, Sector 21, Turbhe, Navi Mumbai. Allotted by the City and Industrial Development Corporation Ltd (CIDCO), Mr. Narang had been in lawful possession for years.

In 2016, fraudsters allegedly prepared forged documents using someone impersonating Mr. Narang. A “Deed of Apartment” dated October 10, 2016, and a “Conveyance Deed” dated November 30, 2016, were executed and registered. These papers transferred the flat to Rajaram Ramdeo Jaiswar (Defendant No. 4 in the suit). The Apartment Owners’ Society (Defendant No. 3) issued a No Objection Certificate (NOC) based on fake identity proofs, and CIDCO initially permitted the transfer.

The fraud came to light later. CIDCO revoked its NOC and permission via a letter dated February 14, 2017, noting that an impersonator had forged ID documents and deceived authorities. The society also withdrew its NOC on December 19, 2016. An FIR (No. 114 of 2017) was registered against the suspects.

Since the documents were registered, CIDCO advised Mr. Narang that only a civil court could cancel them. He filed a suit (RCS No. 240 of 2023) in the Thane Civil Court seeking declarations that the 2016 deeds were false, fabricated, null and void, not binding on him, and should be cancelled under Section 31 of the Specific Relief Act, 1963. He also sought an injunction.

To expedite relief, Mr. Narang applied for a “judgment on admission” under Order XII Rule 6 of the Code of Civil Procedure. He pointed to clear admissions in Mr. Jaiswar’s Written Statement, where the defendant stated he had learned (after inquiries with CIDCO officials) that:

• The seller was not the real owner.
• Mr. Narang is the real owner.
• The seller was an impersonator of Mr. Mohan Gangaram Narang.
• He had been cheated/deceived by the impersonator and another party (Defendant No. 5, Vivek Rajesh Agarwal).

Mr. Jaiswar described himself as a victim who acted in good faith, lost his retirement savings, and suffered huge financial losses.

The Thane Civil Judge rejected the application, holding the admissions were not clear, unambiguous, or unconditional, were based on hearsay, and allegations of forgery against Mr. Jaiswar required a full trial.

Mr. Narang challenged this in the Bombay High Court. Justice Jamadar, after detailed analysis, disagreed with the lower court. He held that Mr. Jaiswar’s repeated assertions constituted clear, implied, and constructive admissions: there was no real transaction between Mr. Narang and Mr. Jaiswar, no consideration was paid to the real owner, and the deeds were invalid.

The court noted additional red flags, such as the Conveyance Deed falsely claiming payment of ₹10 lakhs in 1998 (18 years before execution), CIDCO and society’s cancellations, and the pending FIR. Relying on Supreme Court precedents (Uttam Singh Duggal, Karam Kapahi, Himani Alloys, etc.), the judge emphasized that Order XII Rule 6 allows speedy judgment on clear admissions to avoid unnecessary trials—especially for an elderly litigant.

The High Court partly allowed the petition, quashed the Thane order, and passed a decree on admission:

• Declared both 2016 deeds void and not binding on Mr. Narang.
• Ordered their cancellation and delivery up.
• Directed the trial court to forward the decree to the Registrar of Assurances for notation.
• Clarified the ruling does not influence any criminal proceedings.

The court observed no need for trial on the core issue of document validity, though forgery allegations against parties can proceed separately.

This ruling serves as a stark reminder for homebuyers: always verify seller identity through multiple sources, insist on original documents, and be wary of suspiciously quick or cheap deals. For genuine owners facing impersonation fraud, courts can provide fast civil remedies via admissions in pleadings, even while criminal probes continue.

The judgment reinforces that registered documents tainted by proven fraud or impersonation can be nullified expeditiously when facts are admitted.

Also Read: Worli Flat Sold For ₹51 Crore

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The attached assets include immovable properties valued at ₹49.79 crore—comprising a villa, a hotel and resort, office spaces, and multiple land parcels in Gurugram (Haryana), Himachal Pradesh, and Maharashtra. Movable assets worth ₹1.78 crore consist of seized cash and bank balances in accounts linked to Yadav, OSBPL, and related entities.

The ED’s probe, initiated based on multiple FIRs registered by the Economic Offences Wing of Delhi Police and Haryana Police, alleges offences of cheating, criminal breach of trust, forgery, and criminal conspiracy. The complaints stem from OSBPL’s affordable housing projects, where substantial funds were collected from homebuyers with promises of timely delivery.

Investigation revealed that despite receiving funds, projects remained incomplete, possessions were not handed over, and units were arbitrarily cancelled and re-allotted. Homebuyers faced prolonged uncertainty and financial losses while entrusted funds were diverted for unrelated purposes.

ED findings establish that Swaraj Singh Yadav, the key promoter and decision-maker, orchestrated the scheme. Project-specific escrow funds were routed through free accounts and related entities, bypassing statutory safeguards. Units were resold multiple times at inflated prices, parking spaces monetised beyond limits, and forged documents used to justify illegal cancellations.

The diverted proceeds were layered and used for personal expenses, property acquisitions, and other ventures, amounting to a systematic abuse of trust.

The agency stated that further investigation is underway.

This case highlights growing scrutiny on real estate developers amid rising complaints of fund diversion and project delays affecting thousands of homebuyers.

Also Read: PMAY Homebuyers Cheated: ED Arrests OSBPL Head for Fraud, Fund Diversion and Cash-Based Resale Racket

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The attachment was carried out on December 17, 2025, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, by the ED’s Gurugram Zonal Office.

Funds Diverted Instead of Project Completion

According to the ED, the attached assets include properties belonging not only to Ramprastha Group, but also to Vatika Group, Unitech Group and other entities, to whom the homebuyers’ funds were allegedly diverted. The money, instead of being utilised for construction and delivery of homes, was siphoned off under the guise of loans, advances and land transactions.

The investigation was initiated based on multiple FIRs registered by the Economic Offences Wing (EOW), New Delhi and Haryana Police, which alleged large-scale cheating and fraud of flat buyers and plot buyers.

Projects Launched, Possession Delayed by Over a Decade

ED investigation revealed that RPDPL had launched several residential projects between 2008 and 2011, including:

• Project Edge
• Project Skyz
• Project Rise
• Ramprastha City (plotted colony)

These projects are located in Sectors 37D, 92, 93 and 95 of Gurugram. While possession was promised within 3 to 4 years, buyers are still waiting even after 10 to 14 years, the agency said.

₹1,100 Crore Collected from Homebuyers

The ED stated that RPDPL collected approximately ₹1,100 crore from more than 2,600 homebuyers, but the funds were systematically diverted to group and non-group companies rather than being used for project execution.

Directors Arrested, Total Attachments Cross ₹866 Crore

Earlier in the case, the ED arrested Arvind Walia and Sandeep Yadav, Directors and majority shareholders of RPDPL, on July 21, 2025. Both are currently in judicial custody.

The agency has also conducted extensive search and seizure operations, leading to two earlier Provisional Attachment Orders covering bank balances, movable assets and immovable properties of RPDPL, its group companies and directors. Prior to the latest attachment, assets worth approximately ₹786 crore had already been attached or seized.

With the current attachment of ₹80.03 crore, the total value of assets attached/seized in the case now stands at approximately ₹866 crore, the ED said.

The investigation is ongoing.

Also Read: ED Attaches Assets Worth ₹307 Crore Linked to Illegal Betting App ‘Fairplay’

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Complaint Details: What the FIR Alleges

• Investment and Promises: Between March 2021 and May 2023, the accused allegedly attracted Mr. Doshi by offering him investment in a redevelopment project in Jogeshwari. He was promised 18% assured monthly interest and that the land and building rights were valid under legal norms.
• Money Paid: Doshi — along with relatives and family business accounts — transferred a total of ₹8.26 crore via multiple RTGS transactions to the firm’s account. Initial small interest payments and TDS certificates were given to build trust.
• Large-Scale Fraud: Allegedly, about 95% of two buildings in the project were already sold or allotted to other buyers. Yet the accused continued to collect funds under pretense of project financing, applying the same inducement to at least 17–18 other investors.
• Total Loss: The FIR claims that altogether investors were cheated of approximately ₹31.26 crore, including principal amounts and promised interest — making it a major financial scam.

Sections Invoked: What the Law Says

Police registered the FIR under:

• Indian Penal Code (IPC), Sections 34 (common intention), 406 (criminal breach of trust), 420 (cheating) — reflecting serious criminal allegations of trust violation and fraud.

Investigation has been assigned to Inspector Santosh Pandurang Bade of the Andheri Police Station.

Victim’s Account: Mental & Financial Trauma

According to the FIR lodged by Mr. Doshi, now 71 and retired:

• He believed the project was legitimate and was drawn by the promise of high returns.
• After paying crores, he received nothing but partial interest and TDS certificates; when he asked for refund or clarity, accused allegedly avoided him.
• Social and financial security of the elderly investor — along with his family — has now been shattered.

Implications: A Systemic Warning for Homebuyers

This case underscores a dangerous trend in Mumbai and its suburbs:

• Real-estate investment scams disguised as redevelopment projects.
• Vulnerable investors — often seniors trusting brokers — getting trapped.
• Developers and firms using interest promises and partial payments to lure more funding, even when projects are sold out or non-existent.

Experts warn such schemes thrive on lax verification, eagerness for high returns, and lack of regulatory oversight.

What’s Next: Police Investigation & Caution for Buyers

• Police will trace bank transactions, interview the accused and investors, and verify project status and allotments.
• Possible charges under fraud, cheating, and criminal breach of trust could be filed — implications may include imprisonment and full recovery of cheated amounts.
• Buyers are advised to verify title deeds, check project allotment status, and avoid deals promising unrealistic returns.

For a city that already grapples with housing and redevelopment woes, this FIR sends a warning: always verify before you invest — and trust but double-check.

Also Read: Exclusive: Wadhawan Family’s 429-Acre Dahisar Land Parcel Set for E-Auction at ₹1,234.62 Crore

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The notice, published by Advocate Pawan Shrimal on behalf of H.H. Rana Manvendra Singh Ji of Barwani (Madhya Pradesh), states that some individuals have allegedly misused the Barwani royal family’s identity and falsely claimed ownership over properties that belonged to Late Capt. H.H. Rana Ranjit Singh Ji of Barwani, the former ruler of the Barwani princely state.

According to the family, these properties include land parcels in Mulund Taluka, Kurla (Maharashtra), specifically near Devidayal Road and the BEST Bus Depot, Mulund (West). Ranjit Singh Ji, who passed away in 1930, was the owner of these and other properties in Mumbai and beyond.

The family alleges that certain people are using their official address — Barwani House, 12 Old Palasia, Indore, M.P. — to misrepresent themselves as members of the royal family in an attempt to stake ownership claims over these Mumbai lands.

The legal notice invites anyone possessing genuine title documents or information related to these properties or disputes to contact the family through their advocate via registered post or email (adv.smbhv@gmail.com). The notice further states that useful information will be suitably rewarded.

The family’s move comes amid concerns that unsuspecting buyers may fall prey to fraudulent transactions involving properties linked to the Barwani royal estate.

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The new Supplementary Prosecution Complaint (SPC) names two additional accused: M/s Prathmesh Developers LLP and Jitendra Madanlal Mehta, proprietor of M/s Mehta Developers. Both are accused of playing a role in the laundering of Proceeds of Crime (POC) related to the Rs. 1,039.79 Crore scam.

The case originated from an FIR filed by the Economic Offences Wing (EOW), Mumbai, against M/s Guruashish Construction Pvt. Ltd. (GACPL) and its directors, including Rakesh Kumar Wadhwan and Sarang Kumar Wadhwan. GACPL was entrusted with the redevelopment of the Patra Chawl Project in Goregaon, a project intended to rehabilitate 672 tenants.

The ED’s investigation alleges that GACPL’s directors misled the Maharashtra Housing and Area Development Authority (MHADA). Instead of completing the rehabilitation component, they allegedly sold Floor Space Index (FSI) to nine other developers. This fraudulent action generated a total Proceeds of Crime of approximately Rs. 1,039.79 Crore.

The new complaint details the specific roles of the recently summoned accused. Pravin Raut, partner in M/s Prathmesh Developers LLP, allegedly used diverted POC funds for acquiring various land parcels. Jitendra Mehta, a close associate of Rakesh Kuldipsingh Wadhawan, allowed GACPL to operate the bank account of his firm, M/s Mehta Developers, for business activities. Mr. Mehta allegedly received flats in the Patra Chawl project without any consideration for his assistance in these illegal activities.

In a related action, the ED recently provisionally attached properties worth Rs. 5.20 Crore belonging to Jitendra Mehta and his family. This brings the total provisionally attached assets in the case to Rs. 121.5 Crore. The attached assets include properties belonging to Pravin Raut, Sanjay Raut, Rakesh Kumar Wadhawan, and Sarang Wadhawan.

The ED stated that the present supplementary complaint further strengthens the case by establishing the money trail and the specific method of laundering the proceeds of crime.

Also Read: ED Attaches Assets Worth ₹307 Crore Linked to Illegal Betting App ‘Fairplay’

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According to an FIR registered by the V.P. Road Police Station on August 5, 2025, the accused Abdul Karim Mohammad illegally entered the government-attached property, demolished its structures, sold the scrap, and even entered into a ₹15 crore land deal, while the ED and local police allegedly remained unaware or inactive.

The Background: Iqbal Mirchi and New Roshan Talkies

The property in question, New Roshan Talkies, located at Girgaon, is historically linked to Iqbal Memon alias Iqbal Mirchi, a known associate of Dawood Ibrahim.

In 2020, the ED provisionally attached the property under a money laundering probe. The attachment was confirmed in 2021 by the PMLA Adjudicating Authority.

Despite this, the ED did not take physical possession until December 4, 2024, following a November 2024 order by the PMLA Appellate Tribunal.

The Breach: What the Accused Did

According to the FIR:

• In July 2023, Abdul Karim Mohammad executed a one-sided transfer deed, claiming to be the owner of the property — without any legal title or proof of payment.
• Between September and October 2024, he demolished existing structures on the property, knowing it was attached under PMLA.
• In November 2023, he entered into a sale agreement with Govind Builders, valuing the land at ₹15 crore, and accepted a token payment of ₹99 lakh.
• He also sold building scrap and debris for ₹5 lakh in cash to a local dealer.
• All of this was done before ED physically took control — but well after the property was legally attached and declared government-controlled.

The Cover-Up: Fake Documents & No Proof

The FIR, lodged by an ED officer, notes that Abdul Karim:

• Failed to produce any documentary proof of having paid ₹5.4 lakh in 1982 for the property as he claimed.
• Did not notify or contact legal heirs of Iqbal Mirchi or the original sellers.
• Used forged narratives to mislead buyers and carried out transactions that are legally null and void under PMLA provisions.

Even more damning, Junaid Iqbal Memon, son of Iqbal Mirchi, had to approach the PMLA Appellate Tribunal in November 2024 to inform them about the illegal encroachment and demolition. The tribunal then ordered the ED to take possession — months after the property was already damaged and dealt.

The Real Question: Where Were ED and Police?

Despite the property being a high-value asset linked to international crime networks, and under active PMLA proceedings, neither the Enforcement Directorate nor the Mumbai Police seem to have monitored, guarded, or physically secured the property for over three years after attachment.

How did an accused freely enter and demolish a government-seized asset in South Mumbai?
Why was there no surveillance, police protection, or court-enforced monitoring of the land?
Why did it take almost a year — and a legal plea by the underworld don’s family — for the authorities to act?

These are questions that remain unanswered even as a formal investigation begins.

Legal Action So Far

The FIR has invoked several serious provisions of the Bharatiya Nyaya Sanhita (BNS), 2023, including:

• Section 329(3) – Destruction of property under attachment
• Section 318(4), 324(3), 324(5) – Cheating and criminal misrepresentation
• Section 223(b) – Criminal conspiracy

The accused faces prosecution, and further arrests or property freezes are expected.

A Systemic Failure?

The case underscores deep flaws in the enforcement architecture. Despite legal tools, court orders, and central agency oversight, the gap between law on paper and action on ground allowed a high-value, crime-linked property to be misused.

When agencies fail to act on their own attachments, what message does it send to encroachers and land mafia?

As the investigation unfolds, this case may become a test for the ED’s credibility and the Mumbai Police’s preparedness in protecting sensitive government-seized properties.

Also Read: Sanjay Raut’s Property Attached by ED

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Allegations of Forgery and Fraud

According to Macrotech Developers, HoABL orchestrated a scheme to deceive customers by falsely presenting itself as part of the Lodha Group, India’s leading real estate company. The alleged fraud involved forging a board resolution and a PAN card belonging to Ashwani Kumar, an independent director of Macrotech Developers and the former Chairman and Managing Director (CMD) of Dena Bank.

The alleged forged resolution, dated July 24, 2022, purportedly allowed the creation of four new companies using the Lodha name:

1. Lodha Landbuild Infrastructure Pvt Ltd
2. Lodha Bhoomi Nirman Pvt Ltd
3. Lodha Land Design Infra Pvt Ltd
4. Lodha Pictorials Landinfra Pvt Ltd

Macrotech Developers asserts that no such board meeting took place on the claimed date and that the resolution is entirely fabricated, including the letterhead, company stamp, and the director’s signature. Additionally, the PAN card presented as belonging to Ashwani Kumar allegedly contained a different photograph and signature, raising questions about identity theft and impersonation.

The Alleged Scheme

Macrotech claims that the scheme began in 2022 when Varpan Land Developers Pvt Ltd, a lesser-known company under HoABL, allegedly passed a board resolution on July 12, 2022, to change its name to Lodha Landbuild Infrastructure Pvt Ltd or Lodha Bhoomi Nirman Pvt Ltd. Shortly afterward, the alleged forged resolution was used to seek name changes and register new entities under the Lodha brand.

Within weeks, on August 4, 2022, the Registrar of Companies (RoC) in Manesar, Haryana, approved the name change request, allowing HoABL to use the Lodha name. Subsequently, HoABL began marketing one of its projects in Goa under the Lodha Landbuild Infrastructure name. According to Macrotech, the project was sold under the Lodha name between September 2022 and April 2023.

Once the project sales progressed, HoABL allegedly changed the name of the company to “HOABL Landbuild Infrastructure Pvt Ltd” in April 2023, in an attempt to cover its tracks and distance itself from the Lodha brand.

Macrotech Developers’ Response

In its statement, Macrotech Developers expressed shock at the scale of the alleged conspiracy and the misuse of government systems. The company stated:

“It is a clear-cut case of forgery, fraud, and impersonation with intent to cheat and deceive. The concerned entities and individuals have created a completely fake resolution of Macrotech Developers Ltd (‘Lodha’) including a false letterhead, false company stamp, false board meeting date, and content which we have never approved, with a false sign of our Independent Director which is nowhere close to his actual signature.”

Macrotech has stated that it is exploring legal action against HoABL and has submitted a detailed report to the stock exchanges.

Legal Implications and Next Steps

If proven true, these allegations could have significant legal repercussions, including charges of forgery, fraud, impersonation, and criminal conspiracy. The use of forged documents to mislead customers and government authorities could result in serious penalties.

As of now, HoABL has not publicly responded to the allegations. Further investigations are likely to follow as Macrotech pursues legal remedies to address the alleged forgery and identity theft.

Also Read: I DIRECT YOU: MANJU LODHA URGES ABHISHEK & ABHINANDAN TO END FEUD, REMEMBERING RAM & LAXMAN

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Allegations of Fraudulent Documentation

MahaRERA’s action follows claims that the project, registered under MahaRERA Project Registration number P51700028631, used a fake commencement certificate (CC) dated January 6, 2021. The Kalyan Dombivli Municipal Corporation (KDMC) confirmed via email on January 12, 2024, that the certificate submitted was not issued by their office, raising concerns about the validity of the project’s documentation.

Hearing and Absence of Promoter

On July 26, 2024, a hearing was held where the MahaRERA Authority recorded that the promoter was absent despite receiving notice. The Authority noted the lack of a response and decided to proceed with further action to address the alleged misuse of documentation.

Key Observations and Authority Actions

• Mandatory Documentation Requirements: According to Section 4 of the Real Estate (Regulation and Development) Act, 2016 (RERA), promoters are required to submit valid approvals and commencement certificates as part of their project registration process. The fraudulent CC submitted by Rajlaxmi Developer was deemed non-compliant with these requirements.
• Revocation Grounds: Under Section 7 of the RERA Act, MahaRERA has the authority to revoke project registrations for defaulting on statutory obligations or indulging in unfair practices. The use of a fake CC was deemed a serious irregularity warranting revocation.
• Protecting Homebuyers: The Authority has taken measures to freeze the project’s designated bank account to prevent further misuse of funds and has barred the promoter from advertising or selling any units within the project. These steps aim to safeguard the interests of prospective and existing homebuyers.

Future Measures and Recommendations

MahaRERA has urged the Secretary (Urban Development) of Maharashtra to implement a dedicated portal for verifying milestone approvals such as CCs and Occupation Certificates (OCs). This system would enhance transparency and consumer protection by allowing buyers and regulatory bodies to verify the authenticity of essential project documents.

Conclusion

The revocation of Rajlaxmi Developer’s MahaRERA registration underscores the Authority’s commitment to enforcing regulatory compliance and protecting consumer interests in the real estate sector. The decision serves as a warning to other developers to adhere strictly to regulatory standards to avoid similar penalties.

Also Read: MahaRERA Enforces New ‘Quality Assurance Certificate’ to Elevate Construction Standards

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