72-year-old Chandkheda resident duped of ₹13 lakh with promise of home loan ‘settlement’
A 72-year-old retired resident of Chandkheda, Ahmedabad, has filed a complaint against three men who allegedly cheated him out of ₹13.55 lakh under the pretext of settling an outstanding home loan and retrieving possession of his seized house from ICICI Bank.
Maganbhai Popatbhai Parmar, a resident of Shyam Bungalows near IOC Road, alleged in his FIR that he, along with his family, was misled and financially exploited by Krishna Ramchandra Jain (resident of Vejalpur), Rakeshkumar Kalubhai Solanki alias Rakesh Darbar, and Saurabh Pancholi (both residents of Sabarmati).
As per the complaint, Parmar purchased a house in 2008 from Nilesh Amitkumar Leuva. It later emerged that the property had an ongoing home loan with ICICI Bank under Leuva's name. Despite Parmar paying the full amount for the property, Leuva failed to settle the dues with the bank, resulting in the property being subjected to recovery proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act.
Over the years, repeated legal notices from ICICI Bank prompted Parmar and his family to seek help for a loan settlement. In December 2023, they were introduced to Krishna Jain through a mutual acquaintance. Jain allegedly promised to liaise with the bank and ensure a settlement, demanding ₹5 lakh initially, followed by another ₹5 lakh. Despite paying the full amount in cash across multiple transactions, Parmar claimed that neither the loan was settled nor was the house released by the bank.
When confronted, Jain returned ₹3 lakh, but withheld the remaining ₹7 lakh, citing pending discussions with the bank.
Subsequently, in July 2024, acquaintances introduced the complainant to Rakesh Darbar and Saurabh Pancholi, who also claimed they could resolve the matter. They demanded a further ₹3 lakh as a settlement fee and ₹55,000 for their services. Parmar, along with his wife and son, paid the amount in phases. Later, they were again asked to pay ₹3 lakh more to retrieve the keys to the house.
Despite repeated follow-ups, neither the settlement was facilitated nor the house keys returned. The accused eventually stopped responding to the complainant’s calls, and the total loss now stands at ₹13.55 lakh.
Chandkheda police have registered the case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) for cheating and criminal breach of trust. The Chandkheda police have started an investigation into the matter.
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