Bombay HC Order: Slap in Face for Bhagtani Builders, Relief for Riyo Project Victims

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Mumbai, 29th September, 2017: The hopes of hundreds of victims of Bhagtani builders ill-fated Riyo project in Mira Road today when Justice Revati Mohite Dere of Bombay High Court gave a strict order requiring Dipesh, Mukesh and Lakshman Bhagtani to pay back Rs 22 crore to the victims within 6 months, as a pre-condition for their anticipatory bail.

Click here to read today's order in Criminal Anticipatory Bail Application no. 1533 of 2017, wherein there were roughly 175 interveners in four Criminal Applications (CA no. 862, 882, 901 and 910 of 2017).

 

MAIN POINTS IN TODAY'S ORDER:

1) Counsel for Bhagtani builders was forced to undertake that (a) the builders will deposit Rs.22 crores (as per the judge's directions on 15th Sept), in 6 equal installments, within six months from today (b) that the first installment will be deposited on or before 12th October, 2017 and (c) the balance 5 installments, thereafter, within one month each and (d) if there is a single default, the protection can be vacated. (e) An affidavit-cum-undertaking of the Bhagtanis stating the above is to be submitted on Tuesday, 3rd October.

2) One of the counsels for interveners pointed out that in addition to the above-mentioned list given by the police Investigating Officer, there were other 18 investors, and that he was in the process of filing an intervention application. Their amount would be an additional Rs.3-4 crores.
 
3) Mr Mundargi (counsel for Bhagtani builders) stated that the builders were ready to deposit the additional amount of the additional investors who are not included in the list tendered by him today, after the list and the amounts are verified.

4) The matter is now "stood over" to 3rd October, 2017 at 3.00 p.m, for tendering the affidavit-cum-undertaking of the applicants.

5) Interim protection (i.e. protection from arrest) granted earlier to continue till the next date i.e. 13th October.


IMPORTANT POINTS MENTIONED ORALLY IN TODAY'S PROCEEDINGS:

a) The Investigating Officer said in response to a question that Dipesh and Mukesh Bhagtani are in India. (Dipesh was on the court premises, it seems, though not in the courtroom. The whereabouts of Lakshman Bhagtani were not discussed.)

b) With reference to another another anticipatory bail application (ABA no. 1725 of 2017) filed yesterday by Bhagtani builders for protection in the case of an FIR u/s IPC sections 420, 120(B) and 34, and MOFA sections 3, 4, 5, 6, 13 and 14, Justice Mohite Dere asked why multiple agencies (i.e. Santa Cruz police station and EOW) were involved in filing FIRs on the same topic. Hence, EOW is directed to take all cases in this matter (i.e. Riyo in particular, and Bhagtani builders in general). Aggrieved Bhagtani investors, in future, please go to EOW and Santa Cruz and register FIRs.

c) It is felt that allottees should not deposit any Post Dated Cheques (PDCs) that may be in their possession. Otherwise, it will be seen as trying to take double payment from Bhagtanis.

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THE BIG MESSAGE FROM TODAY'S PROCEEDINGS: Many FIRs have been registered by Bhagtani's victims, and they will come up before Bombay High Court soon. The Bhagtani scam will now make headlines, and the tide will turn against them and in favour of their victims. Bhagtani victims from Sapphire, Savannah, Serenity and other projects should now gather courage to go and file FIR immediately with EOW. Join the tidal wave of Bhagtani victims fighting for their rights!  

ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114
krish.kkphoto@gmail.com
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Background of this story:






Comments

  1. I am Cool29 September 2017 at 11:48

    Sir, with humbleness, I want to state there was only one Lawyer who was speaking in high court today and he was Devendra Nath Tripathi, he was not only speaking, he tore down the Bhagtani's lawyer. No other lawyer was seen speaking today, all decision was only due to one lawyer and his name is not mentioned in your blog.. this is painful.

    I respect that your blog has provided a platform for others to group people together. Please keep on writing such blogs and hats off to you for awakening people... You are doing something which hardly people would like to take challenge... Thank you.

    ReplyDelete
    Replies
    1. The Brave Pedestrian29 September 2017 at 12:41

      Sir, I was not there on the scene, and am forced to rely on the narration of my lawyer. That is my limitation. I humbly invite you to elaborately write a blog about the heroic efforts of Shri Devendra Nath Tripathi, and post a link here in the comments section. Thank you for your kind words about my blog. Regards, Krish

      Delete
    2. I am Cool30 September 2017 at 22:20

      At one point you are asking to provide details our lawyer's heroics, at the other hand, you yourself removing his name.. there is contradiction.

      Delete
    3. The Brave Pedestrian1 October 2017 at 03:01

      Dear Mr Cool,

      1) I am seeing blatant business promotion of this lawyer Mr Devendra, and none of you is writing any kind of description of the proceedings that can help or inform the readers.

      2) I don't like this guy promoting himself, and I don't like you promoting him. If you want to do such activities, do it on your own blog or Facebook page.

      3) People who post comments under assumed names names don't get to tell me how to moderate the comments to my blog.

      4) Am I contradicting myself? For the sake of this discussion, let us suppose that I am. I don't have to justify my actions to you. My blog, my discretion, my rules -- take it or leave it.

      Regards,
      krish

      Delete
  2. nischal29 September 2017 at 12:06

    Love the picture of the guy getting slapped in this article. Bhagtanis deserve several such slaps in real life

    ReplyDelete
  3. Unknown29 September 2017 at 23:06

    I do not know, if sapphire project buyers can register their name?

    ReplyDelete
    Replies
    1. The Brave Pedestrian29 September 2017 at 23:24

      No, they can't. This is about Riyo only.

      Delete
    2. Unknown30 September 2017 at 22:17

      Everybody can join. There is a case against Dipesh Bhagtani and he is responsible for all dues.

      Delete
    3. Unknown30 September 2017 at 22:22

      Everybody can join. Please go to Santacruz Police station

      Delete
  4. Unknown29 September 2017 at 23:07

    Or they should first go and register their complaint with EOW

    ReplyDelete
    Replies
    1. The Brave Pedestrian29 September 2017 at 23:25

      Yes, exactly. EOW or Santacruz Police Station are both available as options, I think.

      Delete
  5. RiyoVictims30 September 2017 at 03:17

    Hi, would like to know the process of approching EOW for including our names. We are group of 5 consumers and invested in Rio.

    ReplyDelete
  6. India for Rule of Law Foundation (IRLF)30 September 2017 at 05:37

    This comment has been removed by a blog administrator.

    ReplyDelete
    Replies
    1. I am Cool30 September 2017 at 20:35

      Unable to understand why this comment from Lawyer was removed when other lawyers are being promoted on this site.. please also add name and contact details of Mr Devendra in all your future posts for benefit of people. Thanks

      Delete
    2. The Brave Pedestrian30 September 2017 at 21:26

      (1) Mr Cool, I suspect you are Mr Devendra. If you are not, please stop hiding behind a pseudonym.
      (2) I was not promoting the other lawyers I mentioned in my article; I was reporting. There is a difference.
      (3) Whose name I should mention and whose I should not, I will decide.
      (4) If you want to propagate Mr Devendra, please do it on your own blog. My blog is not a place for Mr Devendra's fan club to congratulate him.

      Delete
    3. I am Cool30 September 2017 at 21:30

      Well, I'm not Devendra. He commented openly without hiding his name which you could not like.

      It's your prerogative to promote or write anything on your blog. However, I expected free and fair along with brave journalism.

      Anyway, our group got benefit due to your blog, so no complaints. I will still follow your blog. I don't need to publicise myself.

      Good luck and thank you.

      Delete
  7. Unknown30 September 2017 at 12:03

    I am also a victim/ investor of Bhagtani Riyo, pls let me whom should I contact?

    ReplyDelete
    Replies
    1. I am Cool30 September 2017 at 12:28

      This comment has been removed by a blog administrator.

      Delete
    2. The Brave Pedestrian30 September 2017 at 15:07

      Call me on 9821588114 to discuss.

      Delete
    3. Unknown30 September 2017 at 22:19

      Contact Santacruz Police Station directly. Meet Mr. Mandalkar

      Delete
  8. Jai Hind30 September 2017 at 21:45

    This comment has been removed by a blog administrator.

    ReplyDelete
  9. Ashwani1 October 2017 at 02:06

    This comment has been removed by a blog administrator.

    ReplyDelete
  10. Victim bhagtani rio 20055 October 2017 at 07:21

    I am also a victim /investor of bhagtani rio.pls let me know whom shd i contact

    ReplyDelete
  11. Victim bhagtani rio 20055 October 2017 at 07:24

    Hi
    Would like to know the process of approching EOW for including my name

    ReplyDelete
  12. Unknown6 October 2017 at 06:58

    Hi,I am also a victim of bhagtahi riyo. Please let me know how to add my name or check the name is list shared by bhagtani.

    ReplyDelete
  13. Unknown10 October 2017 at 11:22

    I am the investor of Powai Serenity was cheated by bhagtani till now project has not take off would like to now how many are stuck in serenity so we can file the case group of majority..... You can me on 9022781171

    ReplyDelete
  14. Unknown22 January 2018 at 04:56

    Hi
    I am also Bhagtani victim . I booked Shavana kanjurmarg. Please let me know how add my name.

    ReplyDelete
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