Tag: Economic Offences Wing EOW

Latest StoriesRegulatory

EOW Charges ₹104 Crore Housing Loan Scam; Retired Seed Manager Arrested

RAIPUR: On Friday, the Economic Offences Wing (EOW) intensified its efforts in two long-standing corruption cases. They submitted a 15,000-page chargesheet concerning a nearly 30-year-old cooperative housing loan fraud, which has escalated into a Rs 104-crore bad debt. Additionally, they apprehended a retired official from the Chhattisgarh State Seeds and Agricultural Development Corporation in a case involving disproportionate assets. In the housing loan fraud case, charges were filed in a special Prevention of Corruption Act court against Thawardas Madhwani, the former chairman of Adhunik Grih Nirman Cooperative Society in Raipur, Basant Kumar Sahu, the former housing supervisor of the Madhya…

Latest StoriesRegulatory

Pune Builder, Partner Charged with Duping Retiree of ₹12.58 Crore

PUNE: The Economic Offences Wing (EOW) of the city police has launched an inquiry into a case of fraud against a builder and his associate. They are accused of defrauding an 80-year-old man of ₹12.58 crore over the last decade. A formal complaint was filed at the Koregaon Park police station on Wednesday, leading the EOW to assume responsibility for further investigation. According to Assistant Inspector Kalyani Pandole of the EOW, the complainant was a successful warehouse businessman who is now retired. The police report indicates that the builder initiated a housing project in 2016, prompting the complainant and his…

Latest StoriesRegulatory

Bhopal: EOW Charges Hilltop Society Leaders in Fraud Case

BHOPAL: The Economic Offences Wing (EOW) has initiated legal action against the office-bearers of the Hilltop Housing Cooperative Society in Bhopal. They are accused of defrauding members by collecting substantial sums over 40 years without providing promised plot ownership. This case arose from inquiries into multiple complaints by society members, notably Narendra Nathani. Evidence discovered by the EOW indicates that members paid the full price for their plots and additional development charges but never received their land. Investigators allege that although sale deeds were issued in members’ names, the society retained the original documentation and supplied only photocopies, allowing for…

Latest StoriesRegulatory

Mumbai Developer Alleges Ex-Partner Cheated ₹11.51 Crore

MUMBAI: A developer has accused his former business partner of defrauding him of Rs 11.51 crore by allegedly hiding the prior sale of 19 flats in a Bandra East slum rehabilitation project and misappropriating the proceeds. The Economic Offences Wing (EOW) has filed an FIR against Vaman Madye, the owner of Rajhans Rebuilds and Developers, on charges of cheating, forgery, and breach of trust. In his complaint, Basantaraj Sethiya, director of Sethia Infrastructure Pvt Ltd, alleged that Madye fraudulently sold flats in the Vishal Ashiana redevelopment project located in Nirmal Nagar, Bandra East, without informing him of these transactions. According…

IndustryLatest Stories

Hutment Sale Scam Resurfaces for HDIL

MUMBAI: The Economic Offences Wing (EOW) of the Mumbai Police has uncovered an alleged housing scam involving Rs 150 crore. Home possession documents intended for approximately 1,000 residents of slum rehabilitation were reportedly sold to third-party buyers. The company at the heart of this alleged scheme is Housing Development and Infrastructure Ltd (HDIL) Group. The EOW investigation suggests that top executives of HDIL might be involved, although the firm’s lawyers have refuted this claim to Mirror. The EOW filed its chargesheet on Thursday, naming HDIL promoters the Wadhwans and their associates while also awaiting the Slum Rehabilitation Authority’s (SRA) feedback…