Thane authorities have filed charges against thirteen individuals in connection with a significant financial irregularity involving the redevelopment of buildings on land leased by the Maharashtra Housing and Area Development Authority (MHADA). The case, which came to light on Friday, involves alleged malpractices amounting to over Rs 200 crore.
According to the FIR lodged by Chitalsar police, the irregularities stem from a redevelopment contract awarded to a private firm responsible for updating 18 buildings situated on MHADA-leased land. The allegations centre on the firm’s misuse of a fake mortgage deed to secure a substantial loan of Rs 200 crore from another financial entity. The firm purportedly mortgaged the land where the buildings stand to obtain this loan. The crux of the issue lies in the firm’s failure to utilise the borrowed funds for their intended purpose—the redevelopment of the buildings. Instead, the funds were reportedly diverted. Furthermore, the loan was obtained with a mortgage deed that purportedly misrepresented the authority of the transaction. It has been alleged that the chairperson of one of the housing societies provided a No Objection Certificate (NOC) for the mortgage without securing the requisite approvals from either the residents or MHADA.
The Thane police have launched a comprehensive investigation to ascertain the full scope of the irregularities and the extent of financial mismanagement. Despite the gravity of the situation, no arrests have been made as of now. The case highlights severe lapses in regulatory oversight and raises concerns about the integrity of redevelopment projects on MHADA land. The investigation continues, with authorities determined to uncover the full details of the alleged fraud and hold the responsible parties accountable.
