Mumbai’s Bandra Kurla Complex police have registered a case against former Rajya Sabha MP and Pune-based builder Sanjay Kakade and three others over an alleged ₹5.06-crore property cheating dispute involving two flats in Kalyani Nagar, Pune. The investors allege that they paid a substantial booking amount but received neither possession of the promised apartments nor a refund.
The FIR, registered on October 8, 2026, names Kakade, Chandrakant Kanhaiya Boda and Ramesh Bhosale, described in the complaint as directors of Grand Maratha Construction Private Limited, along with Atul Bohra, identified as a former representative of Kolte-Patil Developers Limited. The complaint was filed by businessman Sumant Bhagwan Thakur, 44, on behalf of investors Avinash Gandhi and Amit Gandhi.
According to the FIR, the two investors booked flats numbered 901 and 902 on the ninth floor of a Kalyani Nagar project in January 2015. Each apartment was to measure 3,818.12 square feet and include terrace and parking facilities. The total agreed consideration for the two flats was ₹13,95,54,000, while the complaint states that ₹5,06,56,000 was transferred to the bank account of Grand Maratha Construction Private Limited as a booking amount. The FIR alleges that Kakade issued allotment letters for the apartments.
The investors allege that construction had not progressed by March 2016 and that the promised flats were never handed over. The complaint further states that the residential project was converted into a commercial development in 2017 without their consent. They were allegedly told that showrooms would be provided in the commercial project, but were later informed in December 2017 that showrooms were unavailable.
The complaint states that alternative properties were subsequently offered. In February 2018, Kakade allegedly offered two flats in a project at Hinjawadi, but the investors allege that these properties were also not allotted. The dispute later involved a memorandum of understanding allegedly executed in 2023. According to the FIR, Kakade agreed under the MoU to repay the original booking amount of ₹5,06,56,000 along with ₹2,93,43,992 in interest, taking the total commitment to ₹8 crore. The complainants allege that this payment was not made.
Kakade has denied the allegations and called the case fabricated. “This case is fabricated, even the amount that they have alleged is false. To malign my image such a case has been filed. Already there is a court verdict in our favour and this we have informed to the police too,” he said, according to Pune Times Mirror.
The police have registered the case under Sections 420 and 34 of the Indian Penal Code, relating to cheating and acts carried out by several persons in furtherance of a common intention. Police Inspector Mahendra Ashok Waghmare has been assigned the investigation, while the FIR was registered by Police Inspector Suresh Gulabshing Padvi. The investigation will examine the property transaction, allotment documents, the alleged change in the project’s use and the repayment commitment described in the complaint.
