Mumbai Fraud: 57-Year-Old Dadar Woman Duped Of ₹2.37 Crore In Residential Property Scam; Case Registered

Mumbai: A shocking case of financial fraud has come to light in Mumbai, where a 57-year-old woman from Dadar was allegedly duped of Rs 2.37 crore by a man who lured her with a promise of Rs 12 lakh in return for financial assistance for his business and fraudulently coerced her into transferring the ownership of her residential property.

Accused Uses Business Investment Ruse

The accused, identified as Nileshkumar Dhirubhai Patel, 34, a resident of Yash Orion, I.B. Patel Road, Goregaon East, Mumbai, was booked under Section 420 of the Indian Penal Code (IPC) by the Dadar Police on August 16.

How the Fraud Unfolded

According to the complaint, the incident took place between June 23, 2023, and June 27, 2024. The complainant, Rashmi Kulkarni, an accountant at Sushrusha Hospital, resides with her husband, Rajeev, 65, and her mother, Sulochana Vaidya, 88, in the Bliss Casa Co-operative Housing Society on Bhavani Shankar Road, Dadar.

Memorandum of Understanding and Loan Promise

She was introduced to the accused by a family acquaintance, Prem Goenka, in October 2022. Patel allegedly told her that he needed capital for his business and presented a plan where both could benefit. According to police, Patel convinced Rashmi to transfer the ownership of her residential flat to his name, claiming it was part of a business investment plan.

He assured her that he would take a home loan against the property, transfer the funds to her account, and offer her Rs12 lakh as a goodwill payment, and invest the remaining amount into his business. He also assured that he would repay the loan and later re-transfer the property back to Rashmi’s name.

To formalize this arrangement, a Memorandum of Understanding (MoU) was signed at Patel’s Andheri East office in June 2023. The MoU stated that Patel would handle the EMI payments and ensure the property would be returned to Rashmi once the loan was cleared.

Memorandum of Understanding and Loan Promise

Trusting Patel, Rashmi allowed the property — valued at Rs 2.49 crore — to be registered in his name at the Sub-Registrar’s Office in Prabhadevi on June 16, 2023. According to transaction records, Rs 1.80 crore was transferred from Canara Bank to Rashmi’s State Bank of India account, and an additional Rs 69.25 lakh was deposited via Patel’s bank account.

Patel then instructed Rashmi to transfer a total of Rs 2.37 crore from her account to various individuals and firms through NEFT and cheques — including Rs 77 lakh to Sushma Enterprises, Rs 84.75 lakh to Raveena Enterprises, and smaller amounts to others. She also received the promised Rs 12 lakh in her account.

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However, trouble surfaced when Rashmi received a loan default notice from Canara Bank on June 27, 2024, revealing that Patel had stopped paying EMIs. When she tried to reach him, his Andheri East office was found locked and all communication attempts failed.

Police Action Initiated

Realizing she had been cheated, Rashmi filed a complaint at the Dadar Police Station. Acting on her complaint, the police have registered a case and initiated an investigation.