Surat: A city-based property consultant alleged that he was cheated of Rs 1.11 crore by two loan agents who promised to arrange a Rs 250 crore loan for four real estate projects but neither secured the funding nor returned the money.According to the complaint, Bhautik Manwar (32), a property consultant who has been working in Surat’s real estate sector for the past decade, collaborates with builders and developers in marketing and selling residential projects on a commission basis. Around four years ago, while promoting a project through social media, he came into contact with builder Dipak Mange and his family members.Police said that in June 2024, Mange, along with his son Bharat and brother Kishor, informed Manwar that they were planning to launch projects in Katargam, Nanpura, Vesu and Adajan and required a loan of Rs 250 crore for the projects.In search of financiers, Manwar approached his acquaintances Kanji Sutariya and Kalpesh Patel, who introduced him to loan facilitator Bhagwan Patil. Patil subsequently arranged a meeting with his superior, Ahmedabad-based loan agent Pankaj Bhavsar.The complainant alleged that Patil and Bhavsar visited the proposed project sites and assured them that the loan could be arranged. For the service, they allegedly demanded consultancy charges of Rs 1.11 crore. Acting on the instructions of the developers, Manwar handed over the required loan documents and paid the amount to the accused.However, despite receiving the money, the accused allegedly failed to arrange the loan. When efforts were made to recover the amount, they neither returned the money nor fulfilled their commitment, the complaint states.Based on Manwar’s complaint, Althan police registered a case of cheating against Bhagwan Patil and Pankaj Bhavsar and launched an investigation into the matter.
