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    Published On : Fri, May 10th, 2019

    Famed builders Kondawar brothers booked for Rs 3 cr bank loan fraud

    Nagpur: Ramdaspeth’s once famous builders Kondawar brothers have been booked for a fraud committed about nine years back, in which signatures were forged to avail loan of Rs 3 crores from a bank. Among the accused are Sanjay Lakshmanrao Kondawar, 48 and his brother Gopal Kondawar, 52, both residents of Ramdaspeth. Ambazari police have registered the case on the complaint of 85 year old Khushaal Gedam. Interestingly, the cops were first reluctant to take action but when Gedam approached higher police authorities, an FIR was filed in the case.

    As per the complainant, Kondawar brothers were serving as Managing Directors in a company named Unique Agro Processes India Limited located in Mhada commercial complex on Amravati road. Gedam, who too was director in the company along with others, alleged that the accused duo had allegedly forged papers about convening a meeting of company’s board of directors on May 2, 2012. He alleged that Kondawar brothers had then kept other directors in dark about the said meeting. The duo manipulated the minutes of the fake meeting in which it was mentioned that a proposal to avail loan was passed. Later the fake signatures of company’s former Chairman, Managing Director and two other Directors were put up on the proposal.

    On the basis of said proposal the loan of Rs 3 crores was approved from Pusad Urban Co-operative Bank Ltd, Gandhibagh branch.

    Gedam informed that after getting the loan approved Kondawar brothers opened their own personal account in the said bank and transferred the loan amount into it. After that they smartly transferred the amount into Jagdamba Real Estate Ltd, a company owned by them.

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