Members of a co-operative housing society in Thane were taken aback when they found that the management of the society was involved in a scam running into nearly Rs3 crore.
The office bearers allegedly floated a fake company to swindle funds
Members of a co-operative housing society in Thane were taken aback when they found that the management of the society was involved in a scam running into nearly Rs3 crore.
Office bearers of Accolade Society at Louiswadi, near RTO headquarters, allegedly misused their positions to misappropriate the society funds to the tune of Rs2.69 crore, the police said.
According to the chargesheet, Ravi Iyyer, Ajit Bhosle, Radhika Iyyer, Trupti Bhosle, Trushna Bhosle, Vikas Damle, PN Sarvade, Santosh Hule, Arun Iyyer and Suresh Kayal are accused in the case. Ajit Bhosle, the key accused, is currently in jail, whole the others are out on bail.
The matter is currently being investigated by the Economic Offence Wing of Thane police.
The matter came to light when one of the residents of the society submitted an application with the office of special auditor, class I, Thane, in March 2006.
The audit report he received opened the proverbial can of worms. According to the report, the secretary of the society Vikas Damle, along with other members, misled the auditors and swindled funds for personal benefit.
According to the police, Ajit, PN Sarvade, and Ravi Iyyer floated Accolade Developers, a partnership firm, to swindle the money. Though Trupti Bhosle and Radhika Iyyer were partners in the firm, no documents to corroborate the same were available.
“Since no partnership deed or any other document pertaining to the partnership is available, it amounts to illegal association and liable for suitable punishment under the law,” a senior police official said.
He added that all transactions carried out under the name of Accolade Developers also stand illegal.
“We are also investigating why they chose to open an account at UTI Bank, Dombivili, when the society is located in Thane,” the official said.
The audit report clearly mentions that the committee members sold three flats collectively worth Rs69,50,000 in the complex. The entire money collected was deposited in the account of Accolade Developers, jointly held by Radhika Iyyer and Trupti Bhosle.
The office bearers of the society also manipulated the bylaws pertaining to co-operative housing society to benefit their relatives and friends.
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