A resident of Rachna Co-operative Housing Society at Hill Road in Bandra has accused some members of the managing committee of resorting to forgery to strike a Rs 100 crore deal for redevelopment rights. Residents of Rachna CHS at Hill Road, Bandra allege that managing committee members of their society have resorted to forgery to strike a Rs. 100 Crore deal for redevelopment rights to a builder. The managing committee did so fearing the deal would fall through as the papers of the society were not in order. Residents informed that after the managing committee members entered into an agreement with the builder for redevelopment in December 2006, they realized that they had not filed the mandatory indemnity bonds that is mandatory for them. Without the indemnity bonds, the society cannot enter into a deal to redevelop the property. The election took place on May 25, 2004. The committee was constituted on the same day. When residents of the society insisted on seeing copies of the indemnity bonds, the accused purchased stamp papers and prepared back-dated indemnity bonds allege residents. When a resident moved to HC alleging fraud, the court asked the additional controller of stamps to investigate. The investigation revealed that the dates on the indemnity bonds were forged. An officer at Bandra police station said a complaint was registered under Sections 465, 467 and 471 of the IPC. From Bandra, with cameraperson Lahu, Shailendra Upadhyay for NMTV News.
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