Pune: Complaints lodged with police against builder Amit Lunkad, Amol Lunkad and Pushpa Lunkad for cheating investors of Rs 50 crore

Pune EOW not making any headway in investigation; 1.5 pc per month returns were promised on investments

Pune: Realtor Amit Lunkad attracted investments in his company promising a higher-than-market returns of 1.5 pc per month through various schemes and collected crores of rupees.

But many complaints have been lodged against him at the Economic Offences Wing (EOW) that he was not returning investors’ money. Complaints involving Rs 50 crore have been lodged till date.

However, the police have not been taking any action. They are merely telling the complainants that the investigation is underway.

DCP (EOW) Vivek Masal said, “We received complaints against Amit Lunkad earlier. Some of the complaints were later withdrawn. Some fresh complaints have been lodged. We are investigating them collectively.”

The complainants have made Amit Kantilal Lunkad, Amol Kantilal Lunkad and Pushpa Kantilal Lunkad the respondents. Pravin Chand Jain lodged the first complaint. He alleged that the Lunkads won his confidence and promised to pay 1.5 pc per month more than regular market returns. They promised regular interest payment.

Later, Jain invested Rs 6.81 crore in Lunkad Realty. Initially, interest was paid. But it became irregular from 2019. Cheques issued by Lunkad bounced due to insufficient funds in his account. So, Jain lodged the complaint with the EOW last year.

Similarly, many people complained to the EOW about the cheating of crores of rupees by Lunkad. They were as the following: Khinvasara-Chavan (Rs 26,70,37,973), Ashok Raisoni (Rs 8,38,30,756), Satish Selot (Rs 1,22,61,162), Deepak Lunkad (Rs 1,59,32,818), Smita Deshpande (Rs 27,87,822), Prakashchand Bora (Rs 2,47,59,079), Bharat Chengedia (Rs 46,49,894), Gokul Bothra (Rs 1,20,62,934) and others.

Thus, investors were allegedly duped of Rs 50 crore. Many complaints were lodged in November 2024. But the EOW investigation has been progressing very slowly. Many complainants were not even called to record their statements, said some aggrieved investors.

DCP (EOW) Vivek Masal has said that a collective investigation of all complaints is underway.