One Bhagtani in police custody, two absconding. What next?
Mumbai, 19th January, 2018: Yesterday, Diipesh Bhagtani was produced before the Metropolitan Magistrate and his police custody was extended till Monday, 22nd Jan. He will be produced again on Monday, and possibly remanded to judicial custody for some weeks or months. Alternatively, he may be released and immediately
re-arrested for Savannah and Sapphire FIRs as he doesn't have
anticipatory bail. Everything depends on what the EOW bosses are thinking and how forcefully the public prosecutor argues before the magistrate. If the public prosecutor argues convincingly, Diipesh may spend months in Arthur Road or
Byculla jail.
Earlier, time was Bhagtanis' best friend. That friendshop broke last Thursday when Bombay High Court dismissed their anticipatory bail application (Read the order), and EOW arrested Diipesh Bhagtani. Now time is Bhagtani's enemy, because every passing day increases the chances Diipesh will lose his marbles during police interrogation.
The police may want to keep Diipesh in custody indefinitely to put pressure on Mukesh and Lakshman to surrender. Time will widen the cracks of internal disputes, lead to a weakening of family ties and cause them to betray one another.
Every passing day of Diipesh staying inside increases the chances of key henchmen like RK Kamath, Vinay Shukla and Upkar Anand spilling the beans during interrogation and turning into a police approver. Every passing day makes it more likely that Bhagtani mafia members will squeal, and their game plan will come out in the open.
Earlier, time was Bhagtanis' best friend. That friendshop broke last Thursday when Bombay High Court dismissed their anticipatory bail application (Read the order), and EOW arrested Diipesh Bhagtani. Now time is Bhagtani's enemy, because every passing day increases the chances Diipesh will lose his marbles during police interrogation.
The police may want to keep Diipesh in custody indefinitely to put pressure on Mukesh and Lakshman to surrender. Time will widen the cracks of internal disputes, lead to a weakening of family ties and cause them to betray one another.
Every passing day of Diipesh staying inside increases the chances of key henchmen like RK Kamath, Vinay Shukla and Upkar Anand spilling the beans during interrogation and turning into a police approver. Every passing day makes it more likely that Bhagtani mafia members will squeal, and their game plan will come out in the open.
Intensive police interrogation of Diipesh will reveal the paper trail and unmask key employees and business associates who abetted in defrauding, money-laundering and diversion of funds. This material will be used for for filing comprehensive chargesheets for Bhagtani's various projects.
Bhagtanis are no longer authorized to sell off their assets. Transactions such as the recent sale of their house to Mukesh's in-laws will probably be cancelled, and such assets will be seized. Sale/transfer of Bhagtani Horizon project in Goregaon to Tejas Tarun Vyas of Oyster Living, and Bhagtani Executive project in Ghatkopar (now called Ashok Odyssey) to Akshay Jain will definitely come under the police scanner, and put Vyas and Jain into trouble. They will have much explaining to do.
WHAT NEXT?
In the last quarter of 2017, criminal investigations started to establish Bhagtani family's guilt, making it easier to initiate civil proceedings in 2018 for recovery of money. People keep asking why police or magistrate court cannot confiscate money from Bhagtani and give it back to flat-buyers. The short answer is: because the law does not work that way. Criminal justice system is geared for identifying crimes and punishing the guilty, and not for recovery of funds; For that, we need to approach civil forums. For more information, read this short article.
People also ask whether there is a guarantee that all the money will come back with interest. The answer is: No legal system in the world can guarantee that. Realistically, your efforts are for recovering a decent portion of the money that you lost. Please don't have false hopes.
OUR FOUR TARGETS:
1) To bring back Lakshman and Mukesh Bhagtani from Dubai, so that they are arrested and face trial
2) To drag the three Bhagtanis and their henchmen before criminal-justice forums, so that various aspects of their crime are fully uncovered
3) To pinpoint Bhagtani properties where flat-buyers money is stored, and have them seized and auctioned by the authorities
4) To activate civil law forums for getting maximum possible refund for flat-buyers
To recover money, Bhagtani properties will have to be seized and sold/auctioned by authorities. Much legal work remains to be done for securing such released funds for flat-buyers.
9821588114
krish.kkphoto@gmail
Bhagtanis are no longer authorized to sell off their assets. Transactions such as the recent sale of their house to Mukesh's in-laws will probably be cancelled, and such assets will be seized. Sale/transfer of Bhagtani Horizon project in Goregaon to Tejas Tarun Vyas of Oyster Living, and Bhagtani Executive project in Ghatkopar (now called Ashok Odyssey) to Akshay Jain will definitely come under the police scanner, and put Vyas and Jain into trouble. They will have much explaining to do.
WHAT NEXT?
In the last quarter of 2017, criminal investigations started to establish Bhagtani family's guilt, making it easier to initiate civil proceedings in 2018 for recovery of money. People keep asking why police or magistrate court cannot confiscate money from Bhagtani and give it back to flat-buyers. The short answer is: because the law does not work that way. Criminal justice system is geared for identifying crimes and punishing the guilty, and not for recovery of funds; For that, we need to approach civil forums. For more information, read this short article.
People also ask whether there is a guarantee that all the money will come back with interest. The answer is: No legal system in the world can guarantee that. Realistically, your efforts are for recovering a decent portion of the money that you lost. Please don't have false hopes.
OUR FOUR TARGETS:
1) To bring back Lakshman and Mukesh Bhagtani from Dubai, so that they are arrested and face trial
2) To drag the three Bhagtanis and their henchmen before criminal-justice forums, so that various aspects of their crime are fully uncovered
3) To pinpoint Bhagtani properties where flat-buyers money is stored, and have them seized and auctioned by the authorities
4) To activate civil law forums for getting maximum possible refund for flat-buyers
To recover money, Bhagtani properties will have to be seized and sold/auctioned by authorities. Much legal work remains to be done for securing such released funds for flat-buyers.
In the end, it is the victims who will have to do all the work, because the world that we live in is not ideal. In an ideal world, if you spill a glass of milk, someone else cleans up and gives you a fresh glass of milk. In the real world, you need to roll up your sleeves, clean up the mess, order a fresh glass and pay for two glasses of milk. Sorry to pop your bubble, but this is the harsh reality.
ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao9821588114
krish.kkphoto@gmail
I am still scratching my head over why Dipesh surrendered to authorities. Bhagtanis are known to only do those things that are in their best interest, they could care less about the great good.
ReplyDeleteI doubt Dipesh is altruistic enough to sacrifice himself for the sake of his company\family. He would happily sell his mother, wife and sister for the right price!
Maybe Dipesh was promised all the family assets over his cowardly brother Mukesh for his sacrifice.
Did Dipesh know that arrests were imminent after the judge cancelled this bail? Did he get any insider info on this? We know that he had lot of cops in his pocket, so, they might have given him some insider information.
Is he hoping to be a model prisoner who complies with authorities and hopes to not serve the full sentence on account of his 'health issues' like the Sahara group CEO.
Or does he plan on getting released from prison and walking out of the country with a fake passport as you have suggested.
There are so many possibilities, but, difficult to know what these crooks have agreed to between themselves.
The bigger question is that do the Bhagtani's think that serving some time will let them get away with not returning any of the monies they owe?
If I'm one of the victims of Bhagtani purchased a flat in one of their projects. What should I be doing?
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