Pune Fraud Case: Trader Duped of Rs 44 Lakh, Shops Allegedly Transferred Using PoA Misuse
Pune, 27th April 2026: Sinhagad Road police have registered a ₹44 lakh fraud case after a trader alleged that two men duped him and illegally took ownership of his shops in the Manikbaug area.
The complainant, Hasmukh Parsmal Jain (42), a jewellery businessman, has accused Shekhar Bapusaheb Chindhe of Jambhulwadi and Amit Deoram Kalate of Wakad of cheating and illegal money lending. The case has been registered under relevant sections of the Bharatiya Nyaya Sanhita and the Money Lending Act for incidents that occurred between March 2023 and April 2026.
According to police, Jain owned two ancestral shops at Kudale Patil Properties. He initially borrowed ₹25 lakh from Chindhe at an interest rate of 10%. However, ₹50 lakh was transferred to his account, and a power of attorney (PoA) for one shop was obtained through pre-prepared documents. He later repaid ₹25 lakh via cheque.
Police said that under pressure and alleged threats over interest payments, Jain subsequently took another loan of ₹35 lakh from Kalate, who also secured PoAs for both shops in a similar manner. Jain later discovered that the accused had allegedly misused the PoAs to execute sale deeds and transfer ownership of the shops in their names after extracting money through illegal lending.
Police have initiated further investigation into the case.
