EOW Books Six in ₹218-Crore Land Fraud Case Involving Raheja and Unimers India Officials
Mumbai: The Economic Offences Wing (EOW) has taken up a fraud case registered at Mumbai’s Oshiwara Police Station against six individuals, including industrialist and builder Ashish Suresh Raheja, over the alleged illegal transfer of mortgaged land and assets valued at around ₹218 crore in Navi Mumbai’s MIDC area.
The case relates to allegations that valuable land, buildings and machinery pledged as security against loans were transferred despite restrictions imposed by the Bombay High Court. The complaint alleges that the accused created third-party rights over the mortgaged assets, allegedly benefiting a company linked to the Raheja Group.
Land Worth ₹218 Crore at the Centre of Dispute
According to the complaint, Unimers India Limited had taken loans worth several crores from IFCI and other financial institutions to fund its chemical plant and business expansion.
As security for these loans, the company reportedly mortgaged a prime plot measuring approximately 1,52,419 square metres in the MIDC area of Nerul, Navi Mumbai. The mortgage also covered buildings and machinery located on the property.
The complaint alleges that despite restrictions concerning the mortgaged assets, the accused allegedly entered into arrangements that resulted in the creation of third-party rights over the property.
Six People Named in the Case
The case names Ashish Suresh Raheja of Raheja District-3 Pvt. Ltd., G. P. Goenka of Unimers India Limited, Shrivardhan Goenka, Satya Prakash Gupta, along with other responsible officials associated with Unimers India and Raheja District-3.
Investigators are examining the roles allegedly played by each of the accused in the transactions and the circumstances under which the mortgaged property was dealt with.
Alleged Misuse of Funds
The complaint further alleges that the transactions resulted in a financial loss estimated at around ₹218 crore. Preliminary findings cited in the case reportedly suggest that money obtained through the alleged transactions may have been used by directors of Unimers India to meet personal financial obligations.
The allegations are now being examined by investigators, and the exact flow of funds and financial transactions will be determined during the probe.
Case Registered in Mumbai, Property in Navi Mumbai
The FIR was registered at Oshiwara Police Station in Mumbai following a complaint filed by Brij Mohan Rathi. Although the disputed property is located in the MIDC area of Nerul, Navi Mumbai, the case is being investigated by Mumbai’s Economic Offences Wing.
The EOW is expected to examine company records, loan documents, mortgage agreements, property transactions and financial records connected with the alleged deal.
Investigators will also look into whether the alleged transfer of the mortgaged assets violated court directions and the conditions imposed by lending institutions.
Investigation Underway
The registration of an FIR marks the beginning of the criminal investigation, and the allegations against the named individuals are yet to be established in court.
The EOW investigation will focus on reconstructing the transactions, identifying the parties involved and determining whether the mortgaged assets were illegally transferred or encumbered.
Further action will depend on the evidence collected during the investigation.
News source: Information for this article was gathered from a variety of reliable news outlets.
