Pune: Contractor Cheated of Rs 36.45 Lakh in Pune Amid Loan Approval Delays

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Pune:A 57-year-old contractor from Bibvewadi, Pune, finds himself embroiled in a financial scam, having been cheated of Rs 36.45 lakh under the guise of securing a loan from a bank. The contractor, engaged in executing road construction and repair projects for the Maharashtra government, faced setbacks due to delayed clearance of government bills.

Filing a formal complaint (G. Reg. No. 113/24) at the Hinjewadi Police Station, the contractor sheds light on the ordeal. The police have subsequently registered a case against Paresh Rao, a resident of NDA Road, Bavdhan, as the prime suspect.

The contractor’s company, responsible for government road projects, encountered hurdles in receiving timely payments for completed works, prompting the need for a loan from the Bank of Maharashtra to sustain operations. However, even the loan approval process faced unexpected delays.

At that time, the contractor learned about an individual named Paresh Rao who claimed to expedite private loan cases. When approached by the plaintiff, Rao demanded a commission of Rs 20 lakh to fast-track the loan approval. Succumbing to the urgent need, the contractor paid the sum with the expectation of prompt loan processing.

Shockingly, Rao continued to extort additional funds, citing various reasons each time. The contractor, desperate to resolve the loan matter, ultimately handed over a total of Rs 36.45 lakh to Rao. However, instead of facilitating the loan, Rao began evading the contractor, providing evasive explanations, and displaying a dismissive attitude.

Frustrated and realising that he had fallen victim to a scam, the contractor approached the Hinjewadi police to lodge a formal complaint. The case is now under investigation by Police Sub-Inspector Shital Giri.

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