A shocking case of extortion has surfaced in the city, with a director from the esteemed JP Group allegedly targeted for a sum of Rs 200 crore. The Economic Offences Wing (EoW) has registered a case against Mahesh Chandrabhan Kiganrani and Rajesh Chandrabhan Kiganrani, prominent businessmen hailing from Shivaji Nagar, Dharampeth, under various sections including extortion and fraud. The complainant is Jayaprakash Gurudasmal Khushlani (57), a resident of Byramji town. Khushlani holds a directorial position within JP Group, overseeing operations of Pardesi Construction Company, JP Housing Private Limited and other companies. According to police, JP Group is extensively engaged in construction ventures across multiple locations, including Nandanvan and Kadbi. In 2019, an investment of Rs 10.39 crore was made by Mahesh and Rajesh in a Nandanvan project. Khushlani, in turn, pledged property in Nandanvan and Kadbi Square, and made an agreement for sale. Following the transaction, Khushlani reimbursed Rs 1.25 crore to the Kiganrani siblings.

 

In 2020, Khushlani requested more funds, and sold a plot in Bokhara for this purpose, which was intended as collateral. In 2022, Khushlani signed a contract with Rajesh, wherein Rajesh agreed to bear 50% of the construction cost of the project, along with a contribution of Rs 25 crore. The agreement stipulated that Rajesh would receive a 50 per cent share of the project’s profits. Following this, the Kiganrani brothers entered into a new contract for the Kadbi Square and Paradise Project in their own names, allegedly obtaining Khushlani’s signature forcibly. They withheld the original copy of the agreement and retained the property documents. The Kiganrani brothers paid Rs 16.65 crore to Khushlani, of which Rs 6.15 crore were returned by Khushlani, purportedly for the Nandanvan project.