Saturday, October 27, 2007

Pune builder Runwa caught in Land fraud

How many Runwal's are still roaming the streets of Pune ??

The Runwal Group is one of Pune's biggest builders and developers of townships, multiplexes and malls in one of the country's fastest growing cities.

But on Friday night, the facade cracked.

Big fish, Pradeep Runwal was arrested by the Pune police on serious charges of forging the power of attorney of over 270 farmers, both dead and alive, to allegedly secure a bank loan worth a staggering 450 crore rupees.

And Pradeep Runwal wasn't alone, along with him, two of his secretaries were also arrested by the Pune police.

With 300 crore of the loan already sanctioned, Runwal thought it was business as usual, till a former employee began to blackmail him. Runwal would have to cough up Rupees 50 lakhs or be exposed.

When Runwal refused, these men upped the ante. Approached by Runwal's ex-employee, they began to blackmail the developer. When matters threatened to spin out of control Pradeep Runwal himself approached the police and was himself arrested.

It's a curious cast of characters in the custody of the Pune police. And in the midst of that, a poignant irony is visible in the form of the Runwal Group's vision that 'building structures does not take long, building integrity does'.

Apparently Pradip Runwal was just a little too impatient.

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