Bought a home, but it was mortgaged; builder, bank manager booked for loan fraud on three flats

Lokmat News Network

Chhatrapati Sambhajinagar

A major housing fraud has surfaced in which a builder allegedly raised loans using forged documents on three flats that had already been sold and occupied by buyers. The scam also involves a manager of Yavatmal Urban Co-operative Bank. A case has been registered at Jinsi police station against builder Madhusudan Uttarwar (50) and bank manager Sanjay Uttarwar (50).

The complainant, Rajendra Sanap (49), a senior manager in a private company and resident of Basaiyyenagar, purchased a flat in Platinum Venkateshwara Apartment in January 2015 for Rs 35 lakh. He paid Rs 7 lakh as an advance and cleared the remaining amount through a housing loan. At the time of sale, the builder assured him that the flat was free of any encumbrance.

Sanap registered the flat and moved in by October 2015. However, in September 2019, he received a notice from Yavatmal Urban Co-operative Bank stating that the flat had been mortgaged. When contacted, Uttarwar promised to clear the loan within two months but later stopped responding.

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Loans taken on not one, but three flats

Further inquiry revealed that loans totalling Rs 40 lakh had been taken on three flats in the same apartment complex, including Sanap’s, using forged documents. The loan was sanctioned on March 31, 2016, allegedly with the involvement of bank manager Sanjay Uttarwar. Assistant police inspector Aruna Ghule is conducting further investigation.

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Another case against the same builder last year

Earlier, in March 2025, Madhusudan Uttarwar was booked at Begumpura police station for allegedly cheating retired judge Tryambak Jadhav of Rs 85 lakh by fraudulently raising a loan on his plot from the same bank.