Mumbai Fraud Case: Four Charged in Sale of Mortgaged Flat to Elderly Couple

Mumbai police have charged four individuals with cheating and forgery after they allegedly sold a mortgaged apartment to a senior citizen couple for ₹2.07 crore. The incident unfolded in the upscale Malabar Hill area, where the accused identified as broker Rohan Estate’s owner Rohan Shetty, his employee Kashinath Borde, and flat owners Sagar Shinde and Sneha Shinde executed the fraudulent transaction between October and December of last year.

The victim, a 68-year-old retired merchant navy officer, lodged a complaint with the Malabar Hill police, stating that he and his wife were misled into purchasing the property in the Saukhya Building on Walkeshwar Road. The couple paid ₹2 crore via bank transfer and an additional ₹7 lakh in cash, only to discover later that the flat was under a lien with Saraswat Bank due to an unpaid loan taken by the Shindes. This revelation came after the couple attempted to secure a loan against the property, prompting the bank to inform them of its mortgaged status.

Authorities registered the case on April 8, 2025, under relevant sections of the Indian Penal Code, including charges of cheating and forgery. The accused had misrepresented the flat as free of encumbrances, deceiving the elderly couple into completing the purchase. The investigation remains ongoing as police work to uncover further details of the scheme.

This case highlights a troubling instance of real estate fraud targeting vulnerable buyers in Mumbai’s competitive property market. The accused now face legal proceedings as authorities seek to address the financial harm inflicted on the retired couple.