In response to serious allegations of financial irregularities within the ambitious Maharashtra Police Megacity Project in Pune, an investigation has been initiated to probe the alleged misappropriation of funds. Deputy Chief Minister Devendra Fadnavis announced in the state assembly that a thorough audit would be conducted by the deputy registrar of cooperative housing societies, while the police would undertake a forensic audit to shed light on the matter.
Demand for Investigation
The investigation was prompted by a demand made by Wadgaonsheri legislator Sunil Tingare, who raised concerns about irregularities leveled against the police co-operative housing society by former police officials and other ranks. Tingare revealed that more than 7,200 policemen had invested their hard-earned money in the project, totaling around ₹500 crores. However, despite the significant investments made over 12 years ago, the promised homes have not materialized, leading to suspicions of financial fraud.
Accusations and Allegations
During the ongoing assembly session, Tingare accused former society members of being involved in a massive fraud, leaving the policemen in distress. Many had borrowed money, sold their valuable assets like gold ornaments, and invested their life earnings in the project, only to be left waiting for their dream homes. Tingare demanded that an economic offense be registered against the former office bearers if the money was indeed siphoned off.
Government's Response
Deputy Chief Minister Fadnavis, who also holds the home portfolio, assured that legal action would be taken based on any findings of money diversion. He revealed that the project was currently facing delays due to a private firm's slow progress, and there were reports of another company attempting to take over the project. Fadnavis stated that a meeting would be held to assess the situation, and if the current company was incapable of executing the project, legal options would be explored.
Audit and Forensic Investigation
To unravel the financial complexities, the deputy registrar of the cooperative housing society will conduct a comprehensive audit. Additionally, the police will carry out a forensic audit to determine whether any financial wrongdoing had occurred. The goal of the investigation is to hold those responsible accountable for any financial misconduct.
Concerns Over Project Progress
In an April 25 edition, Hindustan Times had highlighted the inordinate delay in the Maharashtra Police Megacity Project. The ambitious project for the police, initiated in 2008, had faced significant delays in acquiring the necessary land and obtaining environmental permissions. In response to the ongoing allegations and concerns, the aggrieved policemen, under the Maharashtra Police Megacity Project Bachav Samiti, threatened to take legal action. They accused the 'Society' office bearers of approving funds for the same builder who had been previously declared a wilful defaulter in 2022.
Investments and Rental Agreement
According to the Samiti, approximately ₹525 crores had been invested in the project, with ₹350 crores provided to a private construction company for the completion of the first phase. The office bearers had signed an agreement with the builder, promising to provide rent to the investors until they received rightful possession of their homes.
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