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Motilal Oswal duped of ₹4cr, bldr absconding
The Free Press Journal - Mumbai
|January 06, 2026
MORTAGE SCAM Fraud involves illegal sale of a mortaged property despite a loan All original title documents were deposited with the finance company
Dadar police have filed a chargesheet against real estate developer Ramakant Jadhav, director of Karma Infrastructure, for allegedly defrauding Motilal Oswal Finance Limited of Rs4 crore by illegally selling a mortgaged property.His business partner Ketan Patel has been given a clean chit in the case.
According to the police, Jadhav had taken a loan of Rs158.73 crore nearly a decade ago for a proposed housing project named Karma Panchayat, which was disbursed into the company's bank accounts.
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