An exemplary Police Complaint against Bhagtani builders

5th December, 2017, Mumbai: Here is an example of how a police complaint should be written, in order to register an FIR against all the people who participated in the Bhagtani scam, and made it possible. Till date, about 500 victims of Bhagtani builders have submitted a written complaint to the Economic Offence Wing of Mumbai Police. This seems like a big number until you remember that Diipesh, Mukesh and Lakshman Bhagtani have defrauded over 2000 flat-buyers in half a dozen real estate projects across the city. So, 500 complainants are less than one-fourth of the total number of all the people who have been cheated in Bhagtani Riyo (Mira Road), Bhagtani Sapphire (Dahisar), Bhagtani Serenity and Krishaang (Powai), Bhagtani Savannah (Kanjurmarg) and Bhagtani Executive (Ghatkopar). Over 75% of the cheated public is still silent, passive and dormant! One hopes that they will come out during 2018, and join the public campaign. 

It is crucial to name and shame the employees, brokers, bank managers etc. who enabled the Bhagtanis to cheat you and your family of your life-savings, pensions, peace-of-mind and the house that rightfully belonged to you! Also, it is important to point out the lies and deceit in the communications, because when taken in totality, they comprise the modus operandi of Bhagtani. Please remember, every detail -- every tiny lie -- is crucial evidence, and can give valuable clues to the police, and make the difference between successful conviction and prosecution. Most people are too lazy to write detailed complaints, and this gives Bhagtanis, their employees and associates the loopholes that they requiring for escaping. Remember, if Bhagtani employees are not arrested and interrogated, Bhagtanis will definitely go free because the case against them will be weak!

The below complaint by Mahesh Adate and family is an example for everybody about how to write effective complaints that will nail Bhagtanis, their employees and associates. Please notice how Mahesh has named about a dozen employees and associates, and clearly outlined the role that they played in laying out the web of deceit. Please emulate this example!

Krishnaraj Rao

From:                                                                             Dated: December, 2017

Mrs. Mangala Dadasaheb Adate

Mr. Dadasaheb P Adate

Mr. Mahesh Adate

73/204, Evershine Moon CHS, Thakur Village

Kandivali (E), Mumbai 400101.


The ACP – EOW/The Office In Charge,


Subject: Compliant Against JVPD Properties Pvt Ltd. (Project Bhagtani Serenity- Village Tirandaz, Tal: Kurla and Project Riyo, Mira Road )


This is to brought to your notice fraud done by Mr. Mukesh Bhagtani of JVPD Ltd. And his staff at JVDP LTd. (namely Mr. Radhakrishna Kamath, Mr Anand Kumar, Ms. Khushboo Khanna, Ms. Arti Sanghani, Mr. Shims Shaikh, Mr. Upkar Singh Anand).

Mrs. Mangala Adate, a retired teacher by profession at BMC, a home buyer of  JVDP Properties Limited have paid the builder sum of Rs.21,15,000/- and Service Tax Rs. 65354/-as recorded under allotment letter dated 22 July 2013,towards flat 1203 admeasuring 454 sq. ft. on 12th floor wing A in the building to be known as “Bhagtani Serenity” situated, lying and being on CTS No. 635/A and 64 D, “S” Ward of village Tirandaz, Taluka Kurla, Mumbai.

Following names were included as investor for Serenity project:

1.     Mrs. Mangala Adate

2.     Mr. Dadasaheb Adate (Husband of Mrs. Mangala Adate)

3.     Mr. Mahesh Adate (Son of Mrs Mangala Adate & Mr. Dadasaheb Adate)

Mr. Mahesh Adate (son of Mangala Adate and Dadasaheb Adate), employee of Tata Consultancy Services, NRI, resident in United Kingdom, also paid the builder sum of Rs. 17,75,000/- and Service Tax Rs. 54848/- towards Flat No.1601 on the 16th floor (being 13th residential floor above 3 podiums) of proposed residential building known as BHAGTANI RIYO planned to be constructed at Mira Road.

Mr. Mahesh Adate also paid sum of Rs. 13,25,000/- and Service Tax Rs. 40,943/- towards Flat No.1604 on the 16th floor (being 13th residential floor above 3 podiums) of proposed residential building known as BHAGTANI RIYO planned to be constructed at Mira Road.

Following names were included as investor for Riyo project:

1.     Mr. Mahesh Adate

2.     Mrs. Priti Mahesh Adate (wife of Mr. Mahesh Adate)

3.     Mr. Dadasaheb Adate (Father of Mr. Mahesh Adate)

Mrs. Mangala Adate invested all her life savings, provident fund money as she always dreams of buying a home of her own. Mr. Mahesh Adate also invested his savings & took personal loan in UK and invested in Riyo project as it was advertised as a golden investment opportunity by JVPD office. 

Below is the chronology of events on how we ended up in investing in JVPD Ltd and left cheated by builder and his staff

Mr. Dadasaheb Adate and Mr. Mahesh Adate along with real estate agent Mr. Nishith Gupta, Realty Solutions, Kandivali (E) visited the JVPD office in Santacruz on July 2013 and met Mr. Sandesh Shinde (JVPD Sales Representative also cousin of Mr. Mahesh Adate) and Mr. Upkar Singh Anand (JVDP Sales head) who said that the land title was clear for both Serenity and Riyo and the land was in the name of JVPD properties Pvt. Ltd. The Santacruz Jaycee Homes office asked for a lump sum amount as advance booking of 30 % of the cost of the Serenity flat and 50% for Riyo flats. 

Riyo project was referred by Mr. Nishith Gupta who is a trusted real estate agent and family friend of Mr. Mahesh Adate. Mr. Mahesh Adate also found out that his cousin Mr. Sandesh Shinde also works with JVPD Ltd and he also advised that this is a good investment opportunity.

They had an aggressive marketing strategy where the pre-launch rates were very good, and since the rates were going up rapidly we decided to put our money in their Bhagtani Serenity and Riyo project. 

However there was no progress made by JVPD builders for year upon acceptance of payment from investors (Mangala Adate / Mahesh Adate / Dadasaheb Adate) and which became a major concerning factor for the investors.

Since there was no IOD received even after 18 months from allotment letter, Mr. Mahesh Adate followed up with Bhagtani builders on return of funds as builder failed to fulfil his promise of getting the required approvals. However CRM staff at JVDP always kept promising that all approval issues are sorted out and construction is about to begin. 

On 17th Oct 2015 Mr. Mahesh Adate wrote an email to CRM addressing Mr. Radhakrishna Kamath (also known as Mr. RK) about refund of money for both Riyo and Serenity project.

On 17th November 2015 Mr. RK reverted to email upon multiple reminders and mentioned that delay in response was on account of ill-health and festive reasons and advise to confirm a time for conversation. 

On 25th November 2015 Mr. RK mentioned that Serenity project is going well, Land clearance have been obtained and IOD is expected soon for Serenity project and another 3 to 6 months for Riyo project. Below is the email abstract,


Dear Mr. Adate,

Greetings from JVPD Properties!!

I received your message and mail in reference to your booking in our project 'RIYO' and ' SERENITY'. As I was not available in office couldn't reach you. Further you can contact me on 9167341768  tomorrow between 2-4 pm IST or let me know what time suits you today wherein I can call you on 0044 7438031677.

Sorry for the Inconvenience caused, For any further assistance please feel free to contact. For your reference below mentioned are the project status of Serenity 

OUR PREVIOUS MILESTONE: We have received our Land Title Clearance & First Leg of Approvals for IOD which includes: EE (TC) Traffic Clearances and CFO Clearance from Chief Fire Officer.


Our project file is in process with the BMC department for the IOD approvals. Also the first concession report has been approved by the Dy. Municipal Commissioner. Now we are expecting our first IOD soon. We should be able to complete the process and receive the IOD in 2- 3 months approximately.

With reference to your investment in our project 'RIYO' below mentioned status is for your perusal.

The project is progressing well and we shall receive land title clearances in 3 months approximately and post that 3 months to get the requisite clearance further once this clearances are done we would go ahead with the construction at the site


On 1st December 2015 Mr. Mahesh Adate emailed to Mr. RK mentioning to withdraw the investments and advise on the process for refund however Mr. RK did not respond to this email


Dear Mr. Kamath,

I have been trying to reach you for a while now & unfortunately I couldn't speak with you until now as either you were in meeting / holiday or personal priorities. 

May I re-insist that I am keen to withdraw my investments & I would expect JC builders to honor my request and refund my money with due interest as per initial agreement.

May I request you to kindly let me know the process for withdrawal & assurance that my money would be return with due interest till date.

Awaiting your positive response back


In mid-December 2015, Mr. Mahesh Adate visited India and met Ms. Arti Sanghani (new sales head from CRM team) at JVPD office in regards to refund on investment.Mr. Mahesh Adate was accompanied by Mr. Sandesh Shinde who is cousin of Mr. Mahesh Adate and was a also a former employee of JVPD Ltd. Ms. Arti admitted that there have been delays in the project however tried to convince Mr. Mahesh Adate that project is in good shape now and will start soon.She also mentioned that previous month there was a meeting held by all investors with Mr. Mukesh Bhagtani and he advised everyone on the state of the project. Mrs. Arti refused to refund the money as agreed by allotment letter and mentioned if you wish to cancel the agreement, you would be paid refund only after 9months and there will not be any interest paid for these 9 months.Ms. Arti also advised that Mr. & Mrs. Dadasaheb Adate & Mr. Mahesh Adate will not be eligible for any interest for Serenity as they have acquired all clearance and if cancellation is proceeded you will lose all interest. Mr. Arti advised Mr. Adate to await further considering the good state for both projects.

On 27th March 2016 Mr. Mahesh Adate wrote an email to Ms. Arti reminding that there has been no progress made on Riyo and to kindly process the refunds for Riyo investment.

On 30th March 2016 Mr. Anand Kumar (another member of CRM team) wrote below email promising that all litigation in respect to property has reached to a settlement. This was yet another false communication. At the time of writing this complain, we understand that for Riyo project, even the land was not acquired by JVPD Ltd.

Email abstract from Mr. Anand below for quick reference:


Project Status: Our project Riyo 2 is progressing well, As the litigation in respect to the property is been reached to a settlement and the draft documents and / or agreements have been shared with the concerned parties. We have received a confirmation in respect of the same. The said documents will be executed and registered by April 2016 approximately. Further we would launch the project by June 2016.

Also as per your mail sent, we certainly understand that you are in need of funds hence we would request you to allow us time till June 2016 and post that we would provide you sales assistance for the same. Further if you wish to cancel the said flat then the cancellation would be as per standard operating procedure of the company. 

We hereby request you to maintain the support you always extended to us. We value your trust in our company and we will do our best to meet service expectations.


On 6th of April 2016, Mr. Mahesh Adate wrote to Mr. Anand to advice on procedure for cancellation. However there was no response from CRM team

On 11th April 2016, Mr. Mahesh Adate wrote another reminder email however there was no response.

On 14th April 2016, Mr. Mahesh Adate wrote another reminder email but still no response.

On 16th April 2016, Mr. Anand Kumar responded stating Riyo 2 project is progressing well, email abstract below for quick reference:


Dear Mr. Adate,

Greetings from JVPD Properties Pvt. Ltd.!!!

As per our telecom, please find below the status of Riyo 2 project. 

Project Status: Our project Riyo 2 is progressing well, As the litigation in respect to the property is been reached to a settlement and the draft documents and / or agreements have been shared with the concerned parties. We have received a confirmation in respect of the same. The said documents will be executed and registered by 2nd  week of May and post which we would launch the project.

We hereby request you to maintain the support you always extended to us. We value your trust in our company and we will do our best to meet service expectations.



On 16th April 2016, Mr. Mahesh Adate responded to Mr. Anand Kumar stating that we did not had any telecom and he is mistaken and he should process the refund; below is email abstract:


Dear Anand, when did we had telecom? You must be mistaken

As I have mentioned in my email, I am in need of money, I had invested the money with a horizon of 2-3 years and now that I wish to buy a new property abroad I would like to withdraw my investment. Hence I would really appreciate if JC builders can honour their original commitment and return my money with due interest. Pls let me know whom do I need to escalate this further

Thanks for cooperation


On 24th April 2016, due to dissatisfaction with the responses received from CRM team, Mr. Mahesh Adate wrote an email directly to Mr. Mukesh Bhagtani (Director of JVPD Ltd.), copying CRM email, requesting his attention to the matter and honor the agreements made under allotment letter and refund the money with due interest, below is the email abstract:


Dear Mr. Mukesh Bhagtani,

Hope this email finds you in good health.

Firstly, apologies to write to you directly but I have left with no choice due to unsatisfactory & delayed response received till date.

I am one of the investors for your projects in Mira road & Hiranandani. I have invested in 3 properties apx. 3 years back with an intention to stay invested for couple of years. I would like to withdraw my investments now to fulfil my other urgent commitments. I understand that Hiranandani project is moved a bit and I cannot ask for any withdrawal for same. However the Mira road project has not moved much & I would like to withdraw the investment for same. I have been chasing for this for quite a while & I haven't received a satisfactory response. 

I would really appreciate if you could honour the original terms agreed at the time of investment and return my money with due interest. I have attached the copy of letter issued to me at the time of investment for your quick reference.

Hoping to receive your positive response soon


On 28th April 2016, since there was no response from CRM or Mr. Mukesh Bhagtani, Mr. Mahesh Adate wrote reminder email to which Mr. Mukesh Bhagtani responded on same day advising that he has come up with a solution on this and the same has been advise to Ms. Khushboo. Below is email abstract from Mr. Mukesh Bhagtani:



I have given solution to khushbu, kindly meet her she will take it further. Hope all is well in family

Give my regards to sandesh too


On 3rd May 2016, Mr. Mahesh Adate wrote an email to Ms. Khushboo Khanna mentioning that Mr. Mahesh Adate is in desperate need of money due to plan of buying property overseas and need help in processing refund quickly, below is email abstract:


Hi Khushbu,

Hope you are doing well

As per our discussion on 28th April, could you please let me know how do we take this further. After consulting with my mortgage advisor I am short of apx Rs. 40 Lacs

Here is the summary of expected returns, could you please verify these against your records and advise towards proceedings for payment of 40L by July 2016. Also, advise how remaining 8.60 Lacs can be reinvested into current Serenity project

Awaiting your response

Year -1
Year -2
Year -3
Sub Total 1

Service Tax/Aggregated
Year -1
Year -2
Year -3
Sub Total 2

Grand Total


However there was no response to this email, hence Mr. Mahesh Adate sent reminder email on 6th May 2016

There was no response from CRM team, hence Mr. Mahesh Adate wrote second reminder on 10th May 2016.

There was yet another reminder sent on 12th May 2016.

On 16th May 2016 Mr. Mahesh Adate sent another email mentioning that he is losing the patience now, email abstract below:

<< ---------------------------------------------------------------------------------------------------

Dear Khushbu,

Further to our conversation on 28th April, I am still awaiting any response from your end, I have called on support number & Anand assured that I will get a response back. Kindly note that I am reaching at the end of rope & I would need your sincere urgent attention to close the matter.


On 17th May, Mr. Mahesh Adate wrote an email to Mr. Mukesh Bhagtani to intervene into the matter

On 18th May 2016, Mr. Anand Kumar responded that office is working out the best option and to allow 2 days of time to find the best solution.

On 21st May 2016, Mr. Mahesh Adate asked for further update from CRM office

However there was yet no response from JVDP office, hence On 25th May 2016, Mr. Mahesh Adate wrote yet another follow-up email, as below


Hi Team,

I was informed by Anand that I will be contacted within 2 business day after many escalations - however repeatedly these promises have failed and I have to take time off from  my work to chase on this. May I request you to kindly keep your words and respect the commitments made.  Last I spoke with Khusbu almost a month back & I am yet to see any progress being made on the request. I have requested for refund of investment in Oct 2015 and I have been put off with different promises. I have been dealing with multiple staff (Radhakrishan / Anand / Aarti /Khusbhu) until date with no end result. This is leading to utter frustration and waste of valuable time.

Can I have an urgent attention on this


During these times Mr. Mahesh Adate kept calling Mr. Anand Kumar and Mr. Anand responded to phone calls very rarely. Whenever Mr. Mahesh Adate had an opportunity to speak with Mr. Anand, everytime false promises were made that solution is being worked out and he will respond in one or two days.

On 6th June 2016, Mr. Mahesh Adate wrote an email to Mr. Mukesh Bhagtani to look into the matter, email abstract below:


Dear Mr. Mukesh Bhagtani,

I have been speaking with Anand every alternate day since last couple of weeks & every time I was promised that I will be updated on same day or in couple of days. This is quite frustrating that despite multiple follow ups, I am not receiving due updates. I won't be expecting the investors who shown the trust and invested their hard earned money in the project to be treated in this way.

May I request your sincere attention into the matter.


Mahesh Adate


On 7th June 2016, Mr. Anand Kumar responded stating he tried reaching Mr. Mahesh Adate but could not be reached.

Mr. Mahesh Adate called Mr. Anand & Mr. Anand advised to come up with proposal.

On 8th June 2016, Mr. Anand Kumar worked out the refund money and sent below text message:


Hi Mr. Adate

1. Riyo (flat no.1601)

Down payment: 1775000/-

Interst: 698906/-

Total(1601): 2473906/-

2. RIYO(Falt 1604)

Downpayment; 1325000/-

Interest: 521719/-

Total(1604): 1846719/-

This the calculation for both of your flats¡


There were few more messages and calls exchanged after this and Mr. Anand advised that money can only be returned after one year. This was certainly not acceptable condition and Mr. Mahesh Adate responded by email on 24th June 2016 to Mr. Mukesh Bhagtani / Mr. Radhakrishna Kamath / Ms. Khushoo & CRM office, email abstract below:


Hi Anand, it's more than 10 days now and you have promised to return the call in 2 days. I understand that you were off sick for couple of days - but I have been waiting patiently and you are really now checking my patience.

Dear Mukesh / RK/ Khusboo,

I have been informed that my money can be returned only after 1 yearthis is certainly unacceptable. This has been going on since Oct last year, when initially I was advised that your money will be returned within 6 months. This has been already 9 months & every time new promises made and broken. May I request you to kindly look into the matter, as mentioned earlier I am in desperate need of liquid cash now as I am buying a new home. 


On 25th July 2016, Mr. Mahesh Adate spoke with Ms. Khushboo where she advised Mr. Mahesh Adate that Serenity project next payment is due and the money from Riyo flats can be moved to Serenity project. This was yet another lie from JVPD office as Serenity project still did not took off and there was no progress on IOD or plinth of project. 

On 27th July 2016, Mr. Mahesh Adate wrote an email to Ms. Khusboo as below,


Dear Khushboo,

Thanks for your time on Sat, 25th July. Further to our conversation I am interested to know what best can be done to refund my investments in Mira road project. As mentioned several times, I am not looking for any further investment options and keen to get the liquidity for buying house abroad. While I understand you may have few challenges, I have compromised on my needs and agreed that amount from one flat can be re-invested into Serenity (though I am yet to see the offer details on how cost will be negotiated due to advance payments)

Awaiting your positive response.


These chronology of events have badly impacted Mr. Mahesh Adate’s health and caused mental stress and depression. 

On 3rd July 2016, Mr. Mahesh Adate wrote below email to Mr. Mukesh Bhagtani / Ms. Khushoo / Mr. Radhakrishna Kamath & CRM office,


Hi All,

May I request you to provide an update on below. I am getting into depression mode and getting a feeling of being cheated with my hard earned money and feeling helpless because of the way my case is being dealt with. Mentioning that my money wont be returned to me sooner and can be returned only after an year that too without paying agreed 15% of interest for additional year is not done....I have lost my further opportunity of buying a home because of this situation.

 Should anything further happens to me, note that all of you are responsible for this situation and I have all evidences including call recordings / email threads and official signed documents


Still there was no response from anyone from JVPD Ltd.

On 8th July, 2016 Mr. Mahesh Adate again wrote to Mr. Mukesh Bhagtani / Ms. Khushoo / Mr. Radhakrishna Kamath& CRM office,


Hi All,

Unfortunately I have to seek the legal action and official complaint on this issue,  No where in the contract it is mentioned about not returning the money immediately and returning the money after one year without interest. I have been very patient until now but I have reached end of rope


Mr. Mahesh Adate requested estate agent Mr. Nishith Gupta to look into the matter and extend his help to come up with solution as Mr. Mahesh Adate was out of town and Mr. Dadasaheb Adate was suffering from health issues. 

On 21st July 2016, Mr. Nishith Gupta was advised by builder a plan to transfer the money to Oyster project in Mira road, which was yet another pre-launch. Mr. Mahesh Adate alongwith agent Mr. Nishith Gupta (estate agent for Mr. Mahesh Adate) tried exploring this option, however that felt like yet another trap and that option provided by builder was rejected. These discussions went on for couple of months.

On 15th Dec 2016, Mr. Dadasaheb Adate & Mrs. Mangala Adate visited JVPD office at Santacruz. CRM office have processed cancellation of deed for Riyo project during this time, interest was calculated for 3 years and 2 months (upto September 2016) however the payment schedule was given for one year later which is October 2017. There was no interest accounted for delay of one year which is deviation from agreement as per allotment letter. Since Mr. Dadasaheb Adate & Mr. Mahesh Adate had no other option than taking builders offer, deed of cancellation was signed by Mr. Dadasaheb Adate

Upon cancellation of deed, JVDP has deposited only Rs. 25000 on 8th Feb 2017 against one flat of Riyo and on 4th March 2017, sum of Rs. 25000 against second flat for Riyo. At this point Mr. Mahesh Adate had no other choice than waiting for Oct 2017 to expect the full refund for Riyo project.

These are the only payments made by builder until date of writing this letter (December 2017).

On 4th September 2017, Mr. Mahesh Adate enquired about Serenity project, email abstract below:


Hi Anand, Khushboo,

Could you please advise me the status of Powai project..We are in desperate need of liquid cash and need to sell out the Powai project investment.

Also, could you please initiate transfer of my funds from Mira road investment now..
Your prompt response is greatly appreciated


On 7th September 2017 Mr. Mahesh Adate wrote reminder email to Mr. Anand Kumar & Ms. Khushboo

On 11th September 2017 Mr. Mahesh Adate wrote reminder email to Mr. Anand Kumar & Ms. Khushboo

On 12th September 2017 due to failure of any response from Mr. Anand & Ms. Khushboo, Mr. Mahesh Adate wrote an email to Mr. Mukesh Bhagtani and requested him to respond to the email

On 14th September 2017 Mr. Mahesh Adate sent yet another reminder to Mr. Mukesh Bhagtani& Ms. Khushboo & CRM office to respond to the email

Now seriously worried by ignorance from builder & staff on 15th September 2017 Mr Dadasaheb Adate & Mrs. Mangala Adate visited JVPD office at Santacruz.

Here they were greeted by Mr. Shims Shaikh (CRM office) and he advised that we can process deed of cancellation for Serenity however payments can be made only after 3 years. Mr. Mahesh Adate spoke with Mr. Shims Shaikh over phone and highlighted that this unacceptable proposition and to refund the money immediately. Mr. Shims Shaikh refused the option to refund the money immediately and upon further discussion with seniors in the team came back with an option to refund the money after 2 years and mentioned this is the last and best option builder office can offer.

Mr. Shims also advised that he will ensure that refund of Riyo which was due next month (October 2017) will be processed smoothly and there are no issues in processing that refund. This also gave the impression to Mr. Mahesh Adate that builder will keep his promise mentioned in cancellation deed.

Mrs. Mangala Adate & Mr. Dadasaheb Adate & Mr. Mahesh Adate were helpless and had no other option that to accept what builder has to offer.

Post this cancellation of deed for Serenity, Mr. Mahesh Adate was awaiting refunds for Riyo flats which was due in Oct & Nov 2017. However to Mr. Mahesh Adate’s disappointment, Mr. Bhagtani again failed to deliver on his promises & agreements as per cancellation deed.

On 11th October 2017 Mr. Mahesh Adate wrote an email to Mr. Shims Shaikh to release the refund for Riyo flats.

On 14th October 2017 Mr. Mahesh Adate wrote an email to Mr. Mukesh Bhagtani / Mr. Radhakrishna Kamath, CRM office & Mr. Shims requesting refund for Riyo as per cancellation deed.

On 16h November 2017 Mr. Mahesh Adate spoke with Mr. Radhakrishna Kamath (aka. Mr. RK) about refund & MR. RK advised that it will take another 6 months to process the refund. However Mr. Mahesh Adate advised that awaiting for 6 months is not acceptable proposition and requested that if builder has real intentions of refunding the money then he can show his commitment by at least releasing 50% of refund immediately & remaining 50% can be released in next 3-4 months. Mr. RK advised Mr. Mahesh Adate that he will speak with Mr. Mukesh Bhagtani & will come up with solution.

This conversation was drafted and sent over email by Mr. Mahesh Adate on same day, below is the abstract of email:


Hello Mr. RK,

We discussed today on my concerns on returning the money for Riyo and Serenity investment. You have highlighted your concerns on difficult times and asked me to wait for another 6 months. I have expressed my views that I have already waited for 20 months and asking to wait for any longer is beyond question. This is raising a question of builder's intention to return the investor's money. The series of events over last few years have caused me enough mental stress and depression and started provoking the thoughts of sucidal due to the extent of being cheated for my whole life hard earned money. Should anything happen to me or my parents all of you copied in the email will be responsible for it.

You have expressed your commitment towards talking to your superiors about my ask for releasing 50% payment and confirming the same in 2 days.

I hope to see your positive response and money deposited after 2 days via bank transfer.

If any of the information above is incorrect, please respond back


On 25th November 2017 Mr. Mahesh Adate spoke with Mr. RK & Mr. RK advised that builder is in process of refunding other investors money which will start in 30 days, however he refused to disclose the criteria for refunding other investor’s money or to share the list of investors who will receive refund in 30 days. Mr. RK advised that refunds for Riyo will be done in parts starting 4th month from now till 6th month. Mr. RK also advised that Mr. Mahesh Adate will be compensated for loss of interest and full interest till the date of payment will be paid. Mr. Mahesh Adate challenged this proposition and asked how this proposition can be trusted. Mr. RK mentioned that he will share this agreement on company letter head signed by Mr. Mukesh Bhagtani. Mr. Mahesh Adate mentioned to Mr. RK to share the copy of this letter and Mr. Mahesh Adate will get this copy vetted by advocate. This correspondence was recorded on email and shared across to Mr. RK on same day.

On 28th November Mr. Mahesh Adate sent reminder email to Mr RK to provide copy of letter however Mr. RK has not responded to email. Mr. RK is also not approachable on phone and each time when called JVPD office, an excuse is been made to avoid further conversation.

We therefore would like to register a complaint against the builders of JVPD Properties Pvt. Ltd. and seek to get immediate refund with due interest for Riyo & Serenity investments.

Weare relying on registering an FIR with the Economic Offences Wing of Mumbai Police, and we have full hope that we will get justice.  

Further references such as allotment letter, email communication, bank & cheque details, cancellation deed will be supplied to support this complaint letter.

We therefore demand that appropriate action be taken against the builder and our hard earned money is returned with fair interest rates immediately.

Your faithfully,

Mr. Mangala Dadasaheb Adate

Mr. Dadasaheb Adate

Mr. Mahesh Adate



  1. Mr. Adate, I am very sorry to hear your story & we all been cheated by these B's & let's be together till we get back our each rupee with interest from them and also will ensure that these guys go to jail.
    I pray God to give us power to withstand till then..

  2. Brilliantly Drafted FIR. The foot soldiers and CRM staff are the ones carrying out Bhagtani's dirty deeds. These clowns have been assured by the Bhagtanis that their names have been 'erased' from the FIRs and that they have no liability to any criminal activities since they are just employees and cannot be charged. Once they are arrested, they will soon realize that the Bhagtanis are as reachable to their staff as they are to their investors


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