Economic Offences Wing Registers FIR Against Former Navi Mumbai APMC Deputy Chairman for ₹57.14 Crore Real Estate Fraud
The Economic Offences Wing (EOW) of Mumbai Police has registered an FIR against Dhananjay Wadkar, the former deputy chairman of Navi Mumbai APMC, for allegedly defrauding investors of ₹57.14 crore in a real estate scam.
Real Estate FraudEconomic Offences WingDhananjay WadkarNavi Mumbai ApmcLavish Luxury LlpReal EstateDec 24, 2025
According to the complaint filed by Rajendra Pisat (66), a consultant with Lavish Luxury LLP, Wadkar lured the company into investing in real estate by promising business expansion. Lavish Luxury LLP is engaged in the export and import of luxury goods. Wadkar joined the firm as a partner in 2021, and a partnership agreement was executed in November that year.
The complainant alleged that Wadkar, citing his political connections, persuaded the company’s partners to invest heavily in real estate. In November 2021, Lavish Luxury LLP allegedly transferred ₹433 crore to purchase 645 gunthas of land in Pune at purportedly low prices. Of this amount, Wadkar returned ₹135 crore, while the remaining ₹298 crore was allegedly used to acquire disputed and litigated land from farmers by paying only 10–20 per cent of the land value.
In total, around 16 acres of land were allegedly purchased. Of this, 243 gunthas were later sold at higher prices, while 402.45 gunthas remain in Wadkar’s possession, the complainant claimed. It is further alleged that Lavish Luxury LLP paid Wadkar ₹10–12 crore in cash and ₹17 crore via cheques. However, Wadkar allegedly failed to share the profits from the sale of land with the company, thereby cheating it.
The complaint further states that by misusing his position as a partner of Lavish Luxury LLP, Wadkar, along with his associates, misled other partners and fraudulently induced them to part with company funds. The total value of the land sold is stated to be ₹29 crore, while the estimated government valuation of the remaining 402.45 gunthas allegedly held by Wadkar is ₹28.14 crore, taking the total alleged fraud to ₹57.14 crore.
Additionally, Wadkar is accused of causing loss to the government by evading stamp duty through registering land sale deeds at undervalued amounts.
Based on the complaint, the EOW has booked Wadkar for criminal breach of trust and cheating. Wadkar has approached the sessions court seeking relief, and the matter is scheduled for hearing on December 24.
Frequently Asked Questions
What is the total amount of the alleged fraud?
The total amount of the alleged fraud is ₹57.14 crore.
Who filed the complaint against Dhananjay Wadkar?
Rajendra Pisat, a consultant with Lavish Luxury LLP, filed the complaint against Dhananjay Wadkar.
What was the purpose of the investment by Lavish Luxury LLP?
Lavish Luxury LLP was lured into investing in real estate by Dhananjay Wadkar, who promised business expansion.
How much land did Lavish Luxury LLP purchase, and what was the total investment?
Lavish Luxury LLP purchased 645 gunthas of land, with a total investment of ₹433 crore.
What legal action has been taken against Dhananjay Wadkar?
The Economic Offences Wing (EOW) of the Mumbai Police has registered an FIR against Dhananjay Wadkar for criminal breach of trust and cheating. Wadkar has approached the sessions court for relief.
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