Pune Trader Duped of ₹44 Lakh; Shops Allegedly Transferred Through Power of Attorney Misuse

Pune trader alleges ₹44 lakh fraud after accused misuse power of attorney to transfer ownership of his shops; police begin investigation.

Pune, 27 April, 2026:A shocking property fraud case has come to light in Pune, where a local trader was allegedly cheated of ₹44 lakh, with his shops reportedly transferred using the misuse of a power of attorney (PoA). According to police, the complaint has been registered at Sinhagad Road Police Station, and an investigation is currently underway to uncover the full extent of the fraud.

The complainant, identified as Hasmukh Jain (42), a jewellery businessman, alleged that two individuals manipulated loan agreements and legal documents to gain control over his ancestral shops located in the Manikbaug area. Police have named the accused as Shekhar Chindhe and Amit Kalate, both of whom are facing charges under relevant sections of the Bharatiya Nyaya Sanhita and the Money Lending Act.

According to the complaint, the case dates back to 2023 when Jain initially borrowed ₹25 lakh from one of the accused at a high interest rate. However, ₹50 lakh was allegedly transferred into his account, and pre-prepared documents were used to secure a power of attorney for one of his shops. Despite repaying the original ₹25 lakh through a cheque, the financial pressure and alleged threats continued.

In a subsequent development, Jain reportedly took another loan of ₹35 lakh from the second accused, who also managed to obtain power of attorney rights over both shops. Investigators say that the accused allegedly exploited these legal rights to execute sale deeds and transfer ownership of the properties in their own names, effectively taking control of the assets while extracting money through illegal lending practices.

The case has raised serious concerns about the misuse of legal instruments like power of attorney in property transactions. Legal experts often warn that PoA, if not handled carefully, can be exploited to transfer ownership without the original owner’s full awareness, especially in cases involving financial distress or informal lending arrangements.

Police officials have confirmed that further investigation is in progress, including scrutiny of financial transactions, property documents, and the alleged role of illegal money lending in the case. Authorities are also examining whether similar methods have been used in other fraud cases in the city.

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