Purushottam Chavan, husband of senior IPS officer Rashmi Karandikar, has been arrested by the Economic Offences Wing (EOW) of the Mumbai Police in connection with a multi-crore real estate fraud. He was already in judicial custody for his alleged role in a Rs263 crore Income Tax refund scam, and has now been taken into custody again following new disclosures made by the Enforcement Directorate (ED).
According to reports, Chavan lured victims by promising heavily discounted flats in prime locations like South Mumbai and Lower Parel, claiming they were available under government housing schemes. However, the schemes turned out to be fraudulent, with no real allotments behind them.
Chavan was initially arrested by the ED last year for accepting Rs12 crore from other accused individuals in the Income Tax refund scam, allegedly in return for helping them evade arrest.
During searches at his residence, the ED found forged documents, including fake Transfer of Development Rights (TDR) papers and land deal agreements involving values of over Rs100 crore. These were allegedly used to deceive potential property buyers and investors.
Based on these findings, the ED forwarded the evidence to the Mumbai Police, leading to the filing of an FIR by the EOW and Chavan’s subsequent arrest.
Previously, the ED had also attached assets worth Rs14.02 crore under the Prevention of Money Laundering Act (PMLA). The seized properties included a flat in Mumbai owned by Chavan and lands in Lonavala and Khandala linked to co-accused Rajesh Batreja, in addition to bank balances, insurance policies, and fixed deposits.
The broader investigation stems from a CBI FIR against Tanaji Mandal Adhikari and others, who are accused of generating fraudulent TDS refunds from the Income Tax Department. The ED is continuing to track the financial trail and identify more beneficiaries and associates in this complex web of financial fraud.
