Pune: Runwal Enterprises Director Files FIR Against Bridgewater Realty and Others for ₹17 Crore Fraud

Mumbai/Pune, 5th February 2026: The Chembur Police have registered an FIR against seven individuals, including the partners of Bridgewater Realty LLP and the heirs of a former business associate, for allegedly cheating real estate major Runwal Enterprises Ltd (REL) of ₹17 crore. The complaint also alleges that one of the accused demanded ₹500 crore to settle the dispute regarding a prime plot of land in Pune.

The complaint was filed by Subodh Subhash Runwal (50), Director of Runwal Enterprises Ltd, on February 4, 2026.

The Background According to the FIR (No. 0032/2026), the dispute centers on a 39,392 sq. meter plot of land located at Survey No. 217 in Lohgaon, Haveli, Pune. In 2007, Runwal’s firm entered into a Joint Venture (JV) agreement with ‘Wonder Properties’ (owned by the late Satish Mittal) and the land owners, Skyline Cooperative Housing Society, to develop the property.

Runwal Enterprises allegedly paid a refundable security deposit of ₹10 crore and spent an additional ₹7 crore on project development expenses over the years.

The Alleged Fraud The complainant stated that after the death of the original partner Satish Mittal in 2016, the development rights were legally transferred to Runwal Enterprises Ltd. However, while the company was collating documents for a planned IPO in January 2025, they discovered a breach of trust.

The FIR alleges that the heirs of the late Satish Mittal—identified as Minadevi Mittal, Ashish Mittal, Kavita Agarwal, and Nitin Mittal—conspired with Bridgewater Realty LLP. Without obtaining consent from Runwal Enterprises, they allegedly executed a clandestine ‘Deed of Assignment’ on February 24, 2021. This deed effectively transferred the development rights to Bridgewater Realty LLP, creating third-party rights and causing a wrongful loss of ₹17 crore to the complainant.

Extortion Claims Subodh Runwal further alleged that one of the accused, Nitin Mittal, attempted to extort money from the company. The complaint states that Mittal demanded an exorbitant sum of ₹500 crore to relinquish his claims and threatened to file false criminal cases against the Runwal group if the demand was not met.

Police Action Based on the complaint, the Chembur Police have booked the following accused: Minadevi Satish Mittal Ashish Satish Mittal Kavita Ankush Agarwal Ranjit Darak Nitin Chavan M/s Bridgewater Realty LLP Nitin Mittal

They have been charged under the Bharatiya Nyaya Sanhita (BNS), 2023 sections: 318(4): Cheating and dishonestly inducing delivery of property. 61(2): Criminal Conspiracy. 3(5): Acts done by several persons in furtherance of common intention.

The police have registered the case and Inspector Rajesh Prabhakar Kewale is investigating the matter.