Pune: As per the report by the Supreme Court-appointed Lodha Committee, the sale and purchase of land owned by PACL (Pearls Agrotech Corporation Limited) in Wagholi were strictly prohibited. However, despite this ban, the partners of Vision Valley Developers, in collusion with the landowner, allegedly sold plots to 31 buyers, defrauding them of ₹5.7 crore. A case has been registered by Wagholi police regarding this matter.
Atul Krishnarao Bakane (age 42, resident of Wagholi) has filed a complaint at Wagholi Police Station. Based on his complaint, the police have registered a case against landowner Ramesh Kondiba Patil (resident of Raj Towers, Santosh Nagar, Katraj), Vision Valley Developers' partners and owners Shubham Dhanaji Jadhavrao (resident of Wagholi), Sudhir Bharat Bhorade (resident of Oxy Valley, Bakori Road, Wagholi), and agent Prashant Goli (resident of Oxy Prime, Bakori Phata, Wagholi).
PACL was a chit-fund company that lured people with high-interest returns and collected deposits worth billions. Around 8.3 million investors across the country had invested in PACL, which had a turnover of nearly ₹60,000 crore. However, the company failed to return the investors’ money. It had invested in agriculture and real estate but could not generate enough returns. To facilitate the return of funds to investors, the Supreme Court established the Lodha Committee. The company had purchased land in two sectors in Wagholi, and as per the Lodha Committee’s report, the Supreme Court prohibited any transactions related to this land.
How the Fraud Took Place
According to police reports, Vision Valley Developers advertised plots for sale in Wagholi in December 2021. The complainant met agent Prashant Goli, who handled the marketing for Vision Valley Developers, near the plot site. After verifying the land documents, the complainant met developers Sudhir Bhorade and Shubham Jadhavrao at their office. They provided a search report confirming the details of the plot.
The complainant agreed to purchase plots 23 and 24 from survey number 405 at the rate of ₹13 lakh per "guntha," amounting to ₹26 lakh. He paid the amount, and a sale deed was executed at the sub-registrar’s office.
However, while following up for the official land record (7/12 extract), the complainant discovered that the Supreme Court had banned transactions on this land as per the Lodha Committee’s report. When he confronted Sudhir Bhorade, he was told that Vision Valley Developers had no connection with the Lodha Committee and that the issue would soon be resolved.
A meeting was later held at Madhuban Hotel with all plot buyers. During this meeting, Chandrakant Sanglikar claimed that landowner Ramesh Kondiba Patil was his associate and that he would clear all land-related documents. He stated that an NOC had been obtained for the land in 2018, but it had not been updated by the Haveli sub-divisional office. Sanglikar assured buyers that he would either clear the land record by November 2023 or refund their money.
Despite multiple assurances from Sanglikar, the 7/12 extract was never cleared. The Supreme Court had officially banned the sale and purchase of this land on October 24, 2016. Despite this, Vision Valley Developers' partners Sudhir Bhorade and Shubham Jadhavrao, along with agent Prashant Goli, sold plots to 31 people, resulting in a fraud of ₹5.7 crore (₹5,70,43,800). The Economic Offences Wing (EOW) is currently handling the investigation, with Police Inspector Shubhada Sankhe leading the case.
