No one is safe from the rogues in uniform

Police took money from a fraudster to arrest me

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Background details of Case pertaining to myself ( I K Chhugani )

Am a Mechanical Engineer, 58 yrs of age, considered as the pioneer of the Yellow Pages Industry in India. Pioneered the concept in 1984 by publishing Selpages.

At the peak my Company Sellaids Publications I Ltd., of which I continue to be the Managing Director, employed over 300 people (mostly graduates) in Mumbai, Pune, Calcutta, Guwahati and Bangalore.

My business is respectable , high profile, which brought me also in touch with leading Police officials like, PCs Soman, R D Tyagi and Dr P S Pasricha, who incidently is in the news.

Competition from the Tata Group , in the form of Tata Yellow Pages, was our undoing, I fought the competition fiercely and lost.

My financial Problems began in 2001/2002. Finally I was compelled to sell off my office, and even my home at 201/202, Pinky Panorama. In the 1st week of June 2004, I contracted to sell my flat on the 2nd floor, with condition that the possession will be given by 30th September 2004, as we had fixed my Daughters wedding on 21st August 04.

On 23rd June 04 The PNB officers came to attach the flat 502 in our Building, they met me & could not locate 502, I helped them out & explained that 501/502 was a composite flat with one door. Also I was told by them that they would sell the flat within months.

At that time, I was a MC member and my wife was the treasurer of the Society, Mr. Rohira was the Chairman, Mr. Raj Basantani was the secretary. He was absconding.

I was eager to locate Bharat Overseas Bank Ltd, who I was told, had the mortgage for 501, since in the garage of flat 501 was staying a Gunman, kept specifically for intimidating the Society Management commitee, into transfering the Flat no 701, which was sold by Power Of Attorney holder of Raj Basantani, after he absconded.

The Khar Police had expressed their inability to do anything, as the man had a license for the gun, and we were told that to evict him from the building. the society will have to approch a court as it would be a civil matter. (This same Khar Police later arrested me, though the dispute was clearly civil and the persons if any were to be arrested, were the Bank Officers.)

With PNB help. I located Bharat Overseas Bank Ltd., Chief Manager, Mr Mihir Datta, who was delighted to meet me & said I was a God send person for him. I requested Mr. Datta, to take possesion of 501 along with Garage, so the Gunman gets evicted. But he was a very scared person, who needed immense persuasion, from me to take possession.

Finally, he came to take possession on 28/7/04, he only pasted the notice on the flat 501 door and was interested in doing the same for the garage, but I and other Society members insisted on the Gunman to take his bag & move out, we gave a lock to Mr Datta, to put on the garage.

That night the Gunman and Basantanis driver, came around 11 pm, to break open the Garage lock, which I stopped along with Mr. Rohira, the Chairman. After about 30 minutes, I started getting threatening calls from Dubai, saying I will not be allowed to live more than a week. On the morning of 29th July 04, I registered a NC at Khar Police Station at 9:45 am (NC 1533/04), against Suresh Basantani and Raj Basantani.

The Banks needed a lot of help and understanding, both did not know how much area was 501 & 502. They squabled, PNB insisting on 50% share, whereas BOBL insisted rightly, with help from me, 501 is 641 sq ft and 502 is 398 sq.ft. I was literally an arbitrator between 2 Banks.

Punjab National Bank Ltd., had advanced over Rs 8 Crores against the 398 sq.ft flat and Bharat Overseas Bank Ltd., had advanced Rs 4 Crores against the 641 sq.ft flat. Normal people like me and you, would not get more than Rs 10 lakhs, against such properties.

Both banks requested me to allow their valuers to look thru my flat 201/202 as 501/502 was identical. I allowed them to do that. I already had expressed my interest in buying 501/502 from them, I felt I will get these at a reasonable price, considering the complications.

I t was September now and still I did not know, when the Banks will be able to sell, even if my bid is the highest. I pursued both the Banks.

Finally Mr Datta expressed, that if I could help them at the Presidency Magistrates Court to get physical possession, they will sell the flat within 15 days to the highest bidder. Thereafter it is your luck, they said.

So I followed up with the Registrar at Presidency Magistrates Court and explained again the problem of 2 flats having a single door. Finally on 12th October 04, Both banks got physical possession, I am recorded as a witness.
I had already given possession of my Flat on 30th September 04, but the buyer allowed us to continue to live in the flat, while part of the flat was occupied by them. I was desperate now, and promised the buyer, I will move my furniture out on Dassera day 22nd October 04.

I followed both Banks on a daily basis, on 21st October 05, both Banks formed a Jt committee and considered 4 offers, of which mine was the highest, I understand now from Court records.

However a decision was taken by the Committee to meet again on 28th October 04, as per the rules, the Valuation had to be done again after getting physical possession. Valuation was again done on 23rd October 2004.

The Committee met again on 28th October, but again no decision was taken. The next date was 25th November, I was told.

On 30th October 04, I got my furniture packed and sent for storage to Bulwark Warehousing and me and my family moved in to ABs Service Apartments, at Bandra. For 12 days we stayed there. Afterwards we got a small apartment, which had actually been converted into an office, to stay. In this Flat we stayed till 26th Feb 05. All this time we ate out in restaurants, as the flat did not have a kitchen.

All along, the Banks, kept saying it will take only 1 week more. Finally on 15th January 05 they said we will call for tenders, which they did. I bid with a Earnest Money deposit of Rs 5 lakha on 15th February 05, and was the only bidder.

Their tender terms were, "Full Payment within 1 week". Tenders were opened on 18th February 05 and full payment was made by us on 25th February. (Opening of Tenders to Receiving Key)

What suddenly caused all the upheaval was, initially the Rs 5 lakhs bribe demand from Mr.Mihir Datta of Bharat Overseas Bank Ltd., (which I refused to pay) and later the supposedly attachment of the flat by the MPID court, which was to be implemented by the EOW of Mumbai Police on 8th february 2005.

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