India, Aug. 14 -- Chatushrungi police have registered a case against four individuals associated with a prominent real estate firm in Pune, following allegations of cheating and breach of trust in a Rs.1-crore loan transaction.

The complaint was filed on August 12 by 69-year-old Rajeev Damodar Ambekar, a resident of Model Colony and director of Open Spaces Private Limited, a construction company operating since 2011.

In the FIR, Ambekar has alleged that four representatives of a real estate firm had approached him in 2021, seeking a loan of Rs.1 crore for a residential project. The men claimed they were facing difficulties securing a bank loan and assured Ambekar of a 16% return on the loan over a three-month period, amounting to Rs.4 l...