Again, Jadugar Bhagtani hypnotizes flat-buyers and cheats them!

Mumbai, 17th December, 2017: Diipesh Bhagtani's amazing talent for scamming was on full display yesterday at Bandra's Rang Sharda Auditorium, in front of several hundred angry home-buyers determined to get their money back immediately. After repeatedly promising to repay their money with interest for years, and breaking that promise every single time, guess what? He made another promise to them yesterday, and guess what? Happy with his promise to repay them in six months, people ended up giving Bhagtani what he wanted i.e. a No-Objection-Certificate for granting anticipatory bail signed by the lawyers representing over 300 home-buyers in Riyo, Sapphire, Serenity and Savannah projects. People were hypnotized into thinking that Bhagtani had given them a genuine undertaking to repay their money with 15% interest within six months.

Many hours after the meeting, people awoke from Dipesh Bhagtani's hypnotic spell realized that Bhagtani had taken what he wanted i.e. the joint signatures of their lawyers on the minutes of meeting drafted primarily by him, without giving them anything in return. His promises were nothing new -- just the same thing that he has been saying all along.


Bhagtani wants anticipatory bail in the multiple cheating cases against him. Through a lot of clever maneuvering, Bhagtani's legal team has managed to club together three FIRs in High Court, and two in sessions court, covering four projects namely Riyo Mire Road), Sapphire (Dahisar), Serenity (Powai) and Savannah (Kanjurmarg), where there are maximum number of cheated home-buyers. At tomorrow's hearing in Bombay High Court, and the next day in Sessions Court, Bhagtani and his team of top lawyers can produce the minutes of this meeting as a No-Objection-Certificate for getting anticipatory bail. The signed minutes-of-meeting are Bhagtani's ticket to freedom, and thr ground has been prepared by the High Court order passed on 30th November by Justice Anuja Prabhudessai. Unless all the lawyers of complainants and intervenors argue very forcefully to make the judge listen to their objections, Bhagtani's legal counsels will secure anticipatory bail tomorrow and on Tuesday.

All the points in the minutes of meeting are extremely general statements of good intentions, without any particulars and timelines that would make them enforceable. Nowhere has Bhagtani said when exactly he will "submit a detailed list of properties" as per point A, and when exactly he will hand over "project-wise list of investors mentioning therein the outstanding amount payable to investors" as per point B. Point C says that it is agreed that "said entities or their Directors/Promoters shall not create any third party rights on the aforesaid properties except without the consent and permission of the Hon'ble Court." Let us assume that the word "without" is a grammatical error, but does Bhagtani have good title to any of the "properties" that this point seems to assume? Which "properties"?

Point E says, "It is agreed that the said properties have not been sold or third party rights created..." Which properties? Without attaching a schedule of properties, such sentences are meaningless!

This is NOT a legally enforceable document. It is NOT an agreement, although it is cleverly worded to sound like an agreement. But, despite all its shortcomings, it is Bhagtani's ticket to freedom from prosecution for the next six months. After Bhagtani gets a Bombay High Court order tomorrow based on this, he can get anticipatory bail for the asking for any case registered against him for at least six months!

Please note: this minutes may not have been drafted on the spot by any of the advocates. It appears to have been drafted in advance by Bhagtani's clever lawyers. It was a trap for intervenors and their lawyers!

Jadugar Bhagtani's mass hypnotism works because of people's trusting nature, and their lack of critical and analytical thinking. He showed this bogus slide of assets and liabilities which is reproduced in today's Mumbai Mirror report:

This slide is bogus. Every single fact or figure shown in it is meaningless humbug and outright lies. Let us look at these items one by one. 

"Land of Serenity" has Rs 120 crore on both the asset and liability side, and therefore its net value is zero. Serenity and Krishaang projects in Powai were mortgaged to Xander Finance in June 2015 towards "project finance" borrowed by Bhagtani. As Bhagtani is unable to service that loan, Xander has taken over the property. Serenity does not belong to Bhagtani, and its net asset value is zero.

"Land of Sapphire" cannot be counted as an asset by Bhagtani. Sapphire is an SRA project, and Bhagtani does not have adequate permissions from the Slum Rehab Authority to confer development rights. Therefore, its net asset value is zero.

"Development Rights of Savannah" have zero value, because Bhagtani has no genuine title or even development rights. The land belongs to Sardar family, and it is the subject of a complicated litigation. Bhagtani entered into a dealing regarding development rights from one family member who is probably not even a party to the litigation.

"Development Rights of Riyo" -- what development rights? The land on which Riyo was proposed was gurcharan land i.e. traditional pasture land belonging to the state government. It is collector land, and can never be owned by Bhagtani. Bhagtani has no title and no development rights. The value of "development rights of Riyo" is zero. 

"Other properties" -- what other properties? When the entire list is humbug, and the value of each item is zero, what value can you attach to a vague term like "other properties"?


Advocates, withdraw your signatures by a written submission. All advocates must be instructed by their clients (i.e. intervenors and complainants) by an SMS, email or Whatsapp message to submit in writing a letter to Bombay High Court tomorrow, unconditionally withdrawing their signature from the minutes of meeting.  Nothing less than this will do.

Devendra Tripathi, Shraddha Dubepatil and other advocates should be asked to submit a joint statement at tomorrow's hearing, which states, "Under instruction from our clients, we are hereby withdrawing our signatures from the minutes of meeting dated 16th December, 2017, wherein we have agreed to certain conditions offered by Mr Diipesh Bhagtani. We hereby state that going into the meeting, we had no mandate whatsoever to accept on behalf of our clients any of the conditions proposed by Mr Bhagtani, and recorded in the said minutes. 

"Therefore, under instructions from our clients, we wholly reject the minutes of the meeting, and we repel any averment made on the strength of the said minutes as false and unauthorized by us. We further add that the said meeting held at Rang Sharda Auditorium on 16th December 2017 was done without proper intimation, without circulation of proper agenda of meeting, and without due process. 

"We say further that the said meeting was done in the complete absence of necessary information regarding the properties, assets, liabilities and statement of accounts of Mr Bhagtani's various entities. Moreover, the said meeting was conducted singlehandedly by Mr Diipesh Bhagtani without proper authorization to Mr Bhagtani by the various corporate entities that he represents to make any of the offers that are recorded in the said minutes. 

"The meeting was not conducted with the solemnity and due process that is required for compliance with the Hon'ble High Court's orders issued by Hon'ble Justice Anuja Prabhudessai. It was frivolously conducted, and we are under instructions from our clients to reject it entirely. 

"For all the above-mentioned reasons, we state, under instructions from our clients, that the said meeting held on 16th December 2017 was bad in law, and void ab initio. The minutes of meeting bearing our signatures are to be considered as not signed by us, and not representing the views and the interests of our clients, who are complaints and intervenors in ABA 1533 of 2017, etc. etc.


Any attempt to modify the minutes, or impose modified conditions other than what is mentioned in the minutes, will probably be ignored by the Bombay High Court judge who may have made up his mind to give Bhagtani anticipatory bail. A High Court order in favour of Bhagtani will probably be followed by the Sessions Court judge. This will result in Bhagtani getting away for the next six months, and in effect, all activities against Bhagtani will stop for six months. And after six months are over, Bhagtani will keep getting extensions of 2-3 months, and there is nothing anybody will be able to do about it.

Krishnaraj Rao


  1. They will rue their decision.Surprising they didn't meet you b4 going to the meet.

  2. Jaycee group and bhagtanis are telling a big lie . The land in kanjurmarg has been in litigation between few sikh families for the last 10 years in high court . Only one family who has illegally occupied the land has done a jv against a high court order of status quo.
    The court has also made the jaycee group a party to this case .


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