PUNE: The economic offences wing of the city police on Wednesday received 12 more complaint applications from depositors against builder Amit Lunkad, taking the total number of such pleas to 35 so far.
Lunkad is in magisterial custody following his arrest in a case of alleged cheating of investors.
He allegedly failed to deliver on his promise of handsome returns on investments made in his firm, Lunkad Realty.
One of the depositors, Sanjay Vilas Honrao (48) of Dattanagar near Katraj, lodged a complaint stating that Lunkad and his representatives had promised returns of 14% per annum to 15% per annum.
Not only the firm failed to pay any returns, but also refused to return the initial investment amount, Honrao said.
Deputy commissioner of police (EOW), Bhagyashree Navatake, told TOI, “The collective amount of cheating in these 12 applications is worth Rs13 crore.
We are also tabulating the amount mentioned in the 23 pleas received earlier.
We will investigate the fresh complaint applications along with those we have received in the last two weeks.
So far, police have received 35 complaint applications.
On Tuesday, a special court (MPID Act) had sent Lunkad to the temporary jail at Yerawada under magisterial custody while denying police plea for seven-day custodial remand.
His lawyer told the court that the builder had returned money due to five depositors mentioned in the FIR and was further prepared to return money to all those who approach the realty firm for refund.” The police have invoked charges under Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (MPID) Act, besides, Sections 420 (cheating) and 406 (criminal breach of trust) of the Indian Penal Code against Lunkad.
An officer with the Lunkad Realty firm told TOI at the police commissioner’s office, “Our firm has decided to return money to investors.
We will return 50% of the amount immediately, and the remaining amount in the next few months.
Our firm has good assets and investors should not worry much.” Rameshbhai, an investors from Market Yard, told TOI, “I had invested Rs30 lakh in the company four years ago.
I regularly received monthly returns, but the company stopped paying returns since January, citing Covid-19 issues and losses.
After I submitted a complaint application on Wednesday morning, I received a call from a company representative asking me to visit the firm’s office at Kalyaninagar to receive at least 50% of the amount invested.” TOI visited Lunkad Realty’s Kalyaninagar headquarters on Wednesday evening and found the entry restricted for outsiders to its 15th and 16th floor offices.
The building staff said that most employees had left for the day.
A call to Lunkad Realty’s HR also did not elicit an official response.
“I am not aware of the refund plan to investors.
Our directors and owners would be aware of such plans, if any,” an HR representative told TOI.
TOI also contacted Amol Lunkad, a director in the firm, but failed to elicit any response, despite multiple attempts.
Meanwhile, Lunkad’s lawyer, Sudhir Shah, told TOI, “We could not file a regular bail application today (Wednesday) on behalf of our client as we are awaiting some necessary instructions from the client’s office representatives.” (With inputs from Shiladitya Pandit & Asseem Shaikh)