A complaint about alleged diversion of funds and misuse of depositors’ money in the cooperative credit society located in South Mumbai, by its directors has been lodged by a social worker and RTI activist with the Maharashtra Cooperatives Commissioner.
The social worker Mahesh (Bala) T Vengurlekar in his complaint dated November 08, 2021 has made complaints to various authorities about frauds committed by Shantaram Tupe (Chairman) and Ashish Bhalerao (Vice Chairman) of the @Mumbai Nagrik Sahakari Pat Sanstha (credit society) located at Lalbaug .These two are responsible in diverterting crores of rupees of the society and have utilized these monies for their own personal benefits in their real estate business. The society which has 9 directors has 6 branches in the state, are responsible for even defrauding the Sahyadri Co-operative Bank Lalbaug Branch.
Vengulekar has addressed his letter to Commissioner for Cooperatives and Registrar, Pune Anil Kawade. He has endorsed the copies of his complaint to Cooperation and agriculture minister Dr. Vishwajit Kadam, Principal Secretary, Cooperation and Marketing, Deputy Chief Minister Ajit Pawar, Income Tax Commissioner, Enforcement Directorate, Housing Minister Jitendra Awhad and the Deputy Registrar of Cooperative societies.
Vengulekar has through this complaint brought forth the frauds committed by the Vice Chairman of the Mumbai Nagrilk Sahakari Patsanstha , Ashish Bhalerao , who is the key suspect and one of the Partners of real estate firm- “Adinath Developers” who is responsible for swindling monies from the Mumbai Nagrik Sahakari Patsanstha and with these monies have undertaken several housing projects in Talegaon, Shahapur in Bhiwandi taluka and have a turnover of Rs. 150 crore. Besides, they have taken a loan from the Dattatray Kalambe Bank located at Dadar in Central Mumbai, in the name of the society and have utilized the money for their own business.
In addition Tupe and Bhalerao have obtained a overdraft loan from the Sahyadri Sahakari Bank, Lalbaug branch, using the society as a collateral security and utilized the depositors’ money for their personal gains. Ramesh Korde, CEO of the Sahyadri Sahakari Bank, Lalbaug has already lodged a complaint at Kalachowki Police Station, on August 27, 2021, about the alleged misuse of funds and financial mismanagement in the society by Tupe and Bhalerao, the complainant as stated, in the FIR No. 386 of 2021 registered against them in the Kalachowki Police Station.
Both the directors have fraudulently used the depositors’ money for their personal business ventures by taking into confidence some of the employees of the society. The employees /directors in Mumbai Nagrik Shatarupa Patsanstha are hand in gloves with these Two . The prominent are Manager Usha Sawant Patil, General Manager Atul Bhosale and Manager Kasim are hand in gloves with these directors, for defrauding the depositors mishandling the funds of the credit Society .
The Partners of Adinath Developers a) Shrikant Bhadravallabh Adap, b)Rahul Sopan Padwal, c) Ashish Pravin Bhalerao and d) Nitin Uddhav Hande have launched the housing project at Bhiwandi under name “Royal Flora” . These partners are just a face off as all these are none other than the relatives of Ashish Bhalerao and are utilising the monies of the Depositors of Mumbai Nagrik Sahakari Patsanstha, for their own personal lavish lifestyle. One such partner of Bhalerao, in this project had been Mahesh Bhupat Oza who had a greater role in these fraudulent transactions.
The said Mahesh Bhupat Oza is none other than the prime suspect who has cheated the Ghodawat Group and against whom the complaints have already been registered with Kalachowky, Byculla and Sangli police stations including cases under economic offences in the neighbouring Karnataka. Bhalerao and Manish Oza were partners in business and have been responsible for mismanagement of funds and during partnership with Oza , that the Royal Flora was launched by Bhalerao
The Adinath Developers have construction business also at Wai in Satara. They have also invested crores of rupees in housing projects at Talegaon. Also, both the directors are in partnership with many developers in Shahapur in Thane district. Also they have invested huge money in Marathi feature film “Athva Ranga Premacha” and Marathi TV serial “Balumama”.
Fraudulent activities of Bhalerao :-
As if the Money of the depositors are his personal property Bhalerao has purchased the Flat worth Rs 3.5 crore at Dosti Flamingo in Shivadi in South Central Mumbai in 2017.
Ten years back Bhalreao had purchased a Commercial Premises at Kalachowki for just Rs. two crore, which has gone up to Rs. 7-10 crores now. The said Commercial premises was bought by Bhalerao on the pretext that the said premises was to be utilised for the Office Premises of the Mumbai Nagrik Sahakari Patsanstha , for which he utilised the depositors’ amount but transferred the commercial premises in his personal and wife’s name and then rented it out to Abhyudaya Co-op Bank, for personal benefits. Similar to this commercial premises Bhalerao has utilised the monies of the Mumbai Nagrik for purchasing various commercial premises for his personal business such as “Foster Kids Play Group and Nursery” located opposite Hilla Towers in Lalbaug worth Rs 2.5 crore, Dairy Shop worth Rs. 1.5 Crores located opposite Cotton Green Station.
These commercial premises wherein Bhalerao has either come up with one or the other personal business or has put up the 04 branches of the Mumbai Nagrik Sahakari Patsanstha have been purchased in the name of Bhalerao’s brother or wife , whereby earning lakhs of rupees towards the rent.
The misrepresentation and frauds have been committed by Tupe, Bhalerao and their coterie by getting elected unopposed in Mumbai Nagrik Sahakari Pathsanstha elections due to the coercive and fraudulent tactics adopted by them for the last 20 years.
Hence Vengurlekar has requested for stringent action against these two fraudsters and as such conducting an inquiry into the business activities of these directors. For these purpose a thorough audit should be conducted by appointing special auditor by the Commissioner of Cooperatives under the provisions of the Maharashtra Co-Operative Societies Act I960 and rules there under framed in 1961, Vengurlekar has said and demanded criminal action against the President, Vice Presidents, Directors and the guilty employees of the society who connived in committing the fraud.
