Kamala Mills Owner Ramesh Govani and Partners Face Rs 23 Crore Cheating Case
A real estate investment company has accused Kamala Mills owner Ramesh Govani and partners of cheating them by promising high returns on a project that never materialized. The case, which has now been registered by the police, seeks to reclaim the Rs 23 c
Real EstateFraudKamala MillsRamesh GovaniMumbaiReal Estate MumbaiFeb 05, 2025
The complaint, filed by Vyoman Infrawest Pvt.
Ltd.
and Vyoman India Pvt.
Ltd., alleges that the accused deceived them with false promises of high returns on a real estate project that never saw any significant development.
The story of this fraud dates back to 2013, when Ramesh Govani and the directors of Shivam Parivar Developers, Ajit Bhosle, Pramod Bhosle, and Sanjay Bhosle, convinced the investor companies to invest in a redevelopment project at Parmar Guruji Marg, Parel.
They assured the investors that the project would be completed within 3 to 4 years and that they would receive prime space in the upcoming construction at a concessional rate.
Lalit Puthran, an official from Vyoman Infrawest Pvt.
Ltd., stated that the companies were lured into the investment with promises of high returns and quick development.
Believing these assurances, the complainants invested Rs 23 crores, expecting the project to be completed within the promised timeframe.
However, by 2018, when the investors began seeking investment-related documents, Govani and his associates failed to provide any substantial information.
A physical inspection of the project site in 2018 revealed that no significant construction had taken place.
Despite repeated attempts to seek clarification, the accused avoided meetings and provided vague responses.
The investors grew increasingly suspicious and continued to push for answers, but their efforts were met with silence.
In 2020, the Brihanmumbai Municipal Corporation (BMC) extended the project deadline to December 2021.
However, even with the extended deadline, there was no progress on the development.
Realizing they had been deceived, the complainants filed a complaint with the police.
Initially, the police refused to take action, but the complainants then filed a private complaint.
The Metropolitan Magistrate’s 13th Court, Dadar, directed the police to register a case under CrPC 156(3) and to conduct a full-scale investigation into the financial misappropriation.
This is not the first time Ramesh Govani has been involved in such allegations.
Last year, he was arrested by the Economic Offences Wing (EOW) for allegedly defrauding a businessman of Rs 67.5 crores.
In August, the Session Court granted Govani bail, stating that prima facie, an offence of cheating was not made out against him.
However, this new case adds to the growing list of legal challenges he faces.
The complaint against Govani and his partners highlights the risks associated with real estate investments and the importance of due diligence before committing substantial funds.
Investors are advised to thoroughly investigate the credibility of developers and projects before making any financial commitments.
The police are now conducting a thorough investigation to uncover the extent of the fraud and to ensure that justice is served.
About the Companies Involved
- Vyoman Infrawest Pvt.
Ltd.
and Vyoman India Pvt.
Ltd.
These companies are prominent players in the real estate investment sector, known for their strategic investments in high-potential projects.
- Shivam Parivar Developers Pvt.
Ltd.
This company is a well-known real estate developer in Mumbai, with a history of undertaking large-scale redevelopment projects.
However, the current allegations of fraud have raised serious concerns about its credibility and operations.
Frequently Asked Questions
Who is Ramesh Govani?
Ramesh Govani is the owner of Kamala Mills, a prominent real estate project in Mumbai. He has been involved in several high-profile real estate ventures and has recently been accused of financial fraud.
What is the nature of the cheating case against Ramesh Govani and his partners?
Ramesh Govani and the directors of Shivam Parivar Developers are accused of defrauding an investor company of Rs 23 crores by promising high returns on a real estate project that never progressed.
How did the investors realize they were cheated?
The investors realized they were cheated when they requested investment-related documents and found that no significant construction had taken place at the project site. Despite repeated attempts for clarification, the accused avoided meetings and provided vague responses.
What is the current legal status of the case?
The case has been registered by the police following an order from the Metropolitan Magistrate’s 13th Court, Dadar. A full-scale investigation is underway to uncover the extent of the fraud.
What are the implications for investors in real estate projects?
This case highlights the importance of due diligence and thorough investigations before making significant investments in real estate projects. Investors are advised to verify the credibility of developers and projects to avoid falling victim to financial fraud.
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