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Case filed against Temple Rose Real Estate Pvt. Ltd ( TRREPL) plotting and investment fraud is classic example of Police Public participation (PPP) .And that is the reason why TRREPL director is behind bars and chances of getting investors money back have increased. Thanks to Rajesh Puranik, Police inspector of Economic Offences Wing ( EoW) who under the guidance of Commissioner Rashmi Shukla and DCP Sudhir Hiremath not only had a proactive dialogue with TRREPL investors but also invoked Maharashtra Protection of Interest of Depositors Act (MPID) in this case. Under MPID competent authorities can seize and sell accused persons properties .Even if accused have sold or transferred the property to third party , authorities can seize those also. In TRREPL case even though accused have transferred properties to third party authorities may seize those.

PI Rajesh Puranik with his team and Mubina Sanaula, Deepali Deshmukh , Rashmi Nehete,Prithviraj pardeshi, and Pravin Jain in Mumbai at Sajanani's residence

The MPID court yesterday extended TRREPL directors Devidas Sajnani’s police custody till 5th June. Other Directors of company are absconding and hearing on sajanani’s wife and Daughter’s interim bail application is also postponed till 5th June. The MPID Act, deals with a speedy remedy for recovery of payments in default and also provide remedy by criminal proceedings with stringent punishments and attachment of property. As per the Act, fraudulent default by a financial establishment attracts conviction for every person responsible for the management of the Establishment including the promoter, partner, director, manager or an employee.

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Normally in plotting scams people don’t come forward to lodge a complaint because most of times the agents involved in such scams are their own relatives or acquaintances .And hence investors don’t dare to file police complaints against their own people. As well some times police also don’t take cognizance of such cases due to lack of sufficient proof. And that is the reason why PPP becomes more important. Unless people help police in such matters they can not move forward.

PI Rajesh Puranik , accused Sajnani Showing land at Pingori

In TRREPL case the investors formed some teams to help police. A team of Mubina Sanaula, Deepali Deshmukh , Rashmi Nehete,Prithviraj pardeshi, Prathamesh Pore and Pravin Jain went all the way to Mumbai .In first round of visit they helped police to arrest Sajnani under guidance of PI Rajesh Puranik and in second round they went to sajnani’s home to make panchnama of documents.Other team of Rushikesh Chinchole, suvarna jagtap and Santosh Rahane along with police went to Pingori . Where Sajanani showed a peace of land that never belonged to him but had sold the plots under various schemes. Police made panchanama of Pingori land.

Devidas Sajnani showing his Flat in Mumbai

Helping police was not easy job for investors , because TRREPL scam is organised crime also. Their stooges had already mixed up with genuine investors and misguiding them since long .They were also preventing them from filling complaint against TRREPL .Keeping all the activities secret from stooges was really a tough job. Even then they managed it skilfully.

Team of TREPL investors Mubina Sanaula, Deepali Deshmukh , Rashmi Nehete,Prithviraj pardeshi,

In TRREPL there is team of 15 to 20 persons who are involved in this entire scam as owners. TRREPL directors have properties all over Maharashtra. If investors in TRREPL scam want their money back they have to keep the momentum going till the final outcome.

Pingori Land

Till date , under the MPID, more than 200 cases of financial fraud have been registered , involving property worth Rs. 14.000 crore approximately .This number is very less if compared to unregistered cases. Unless investors dare to file complaint police can do nothing. Though number of investors helping police is very less compared to 5294 plots in Rose city scheme, They have shown the way. Now its up to other investors to come forward or not. Under MPID only the persons register the complaints may get it back.

Wednesday, May 31, 2017

TRREPL Case; Classic example of Police Public Participation….

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