May 2022 \ Cover Story \ COVER STORY—THE GREAT REAL ESTATE LET DOWN
The Bhagtani Saga: After 10 years, no hope for 2,500 victims

Nearly 10 years after they were cheated of more than Rs 427 crore by a Mumbai realtor, 2,500 victims run from pillar to post to recover their hard-earned money

The duped investors have been running helter-skelter, to the Mumbai Police, EOW, the Magistrate and Sessions Courts and Bombay HC, plus moving other agencies to secure justice and get back their huge amounts. “Till 2020, the gross amount due from the builders had gone up to over Rs 880-crore and nothing moved during the pandemic. Today, it has shot up to over Rs 1,000-crore. We have no other option but to hope and wait,” rued one investor.


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Tags: Real Estate

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