Mumbai: Builder Scammed of ₹2.32 Crore in False Promise of ₹50 Crore Loan; Trio Booked

Dahisar police have registered an FIR against three individuals for defrauding a builder of ₹2.32 crore by promising a ₹50 crore loan. The accused, Ratnesh Dubey, Vinod Upadhyay, and Pankaj Singh, are charged under sections 34, 406, and 420 of the IPC.

According to information from the Dahisar police, the complainant, Anshul Pandey (46), a businessman residing in Thakur Complex, Kandivali East, established a company named Gayatri Infratech fifteen years ago. The company engages in buying land at various locations, developing it, constructing residential buildings, and selling them. Currently, the company is involved in large-scale development projects in Bhiwandi, Mira Road, Panvel, etc., requiring substantial capital.

The complainant's father, Hiramani Pandey, had a friendly relationship with the father of the accused, Ratnesh Dubey. Consequently, the Pandey and Dubey families frequently visited each other's homes. During this period, Ratnesh Dubey's father, Shiv Shankar Dubey, requested the complainant's father to award the water supply contract for their Mira Road site to his son. Upon acceptance of this request, Ratnesh Dubey was entrusted with the task of providing water to the Mira Road site. He executed the work professionally and gained the trust of the Pandey family.

During the COVID-19 pandemic, the complainant faced financial instability in his business and started seeking loans through banks to meet his financial needs. It was during this period that Ratnesh Dubey introduced his two acquaintances, Vinod Upadhyay and Pankaj Singh, to the complainant in October 2020, promising to arrange a ₹50 crore loan at an interest rate of 6-8%. The complainant agreed to this proposal.

Subsequently, they requested the company's three-year Income Tax Returns (ITR), the complainant's father's PAN and Aadhaar card, and a five per cent processing fee for securing the loan. The complainant was also informed that the cost of the stamp paper would be his responsibility and that it needed to be purchased from Delhi since the loan would be sanctioned from there.

Between November 2020 and March 2021, the complainant paid a total of ₹2.33 crore in cash and bank transactions to Ratnesh Dubey and Vinod Singh. After three months passed with no progress in the loan process, Pandey contacted Ratnesh Dubey, who claimed to have acquired the stamp paper for registration but alleged that the bag containing it was stolen and requested more time.

Despite numerous follow-ups with Ratnesh Dubey, Vinod Upadhyay, and Pankaj Singh, they continued to make excuses. When Anshul Pandey asked for the money to be returned, they began avoiding him. Consequently, the complainant, Anshul Pandey, filed a written complaint at the Dahisar police station, leading to the registration of the case.