FIRs filed by CBI regarding 90 year old land deal

Since 1925, a case from the princely state of Gwalior, the Central Bureau of Investigations has filed to FIRs to probe alleged transfer of 314 acres of prime land in Thane to builders by official of a PSU and finance department of the Madhya Pradesh Government.


In Majiwada and Yeoor, the cheating in the transfer of about total 314 acres of land, once it was held by princely state of Gwalior and by the union government (post independence) as mortgage had took place in 1968 and afterwards in connivance with the officials of Provident Investment Company Limited, a PSU, Financial Department of MP Government and Thane Municipal Corporation, CBI FIRs allege.


The case sprung from the land which was mortgaged by former textile Baron Mathuradas Gokuldas, an undivided Hindu family at Yeoor and Majiwada Revenue villages of Thane district had some flats which was held by them to secure consolidated debt and interest against the loan taken by them for the business purpose from erstwhile State of Gwalior Darbar.


In September 03, 1925 , the deed of indenture of mortgage dated which was done through its agents Framroz Edulji Dinshaw which was registered at the office of sub-registrar of Assurances at Bombay. The second son of the Karachi landowner was Dinshaw and Seth Edulji Dinshaw a philanthropist was one of the pre-partition India’s most prominent businessmen and lawyers.


“A deed of indenture was against after the death of Dinshaw which was executed on June 10, 1938 between the transferors of Gwalior Darbar which was represented by its finance minister and Provident Investment Company (PIC) which had transferred and assigned the mortgage to PIC which was looking after the financial investment portfolio of erstwhile Gwalior Darbar, a princely state”.


The loan was given to the Mathuradas Gokuldas from the funds of Gwalior State Railways which was merged with the Indian Railways post-independence and all the questions related to the properties were transferred to Central Government under the Federal Financial Integration.


After independence, PIC became a public sector undertaking of government of Madhya Pradesh  which was the assigned management of the mortgaged properties in Bombay, Thane and Pune on the behalf of Union of India.


CBI alleged that as the part of conspiracy, the said land measuring over 314 acres in the villages of Thane were unauthorisedly  given on the long lease and sold to various builders and promoters by the unknown officials of  Provident Investments Company limited without obtaining consent of government of India.


The CBI claimed about the NOC for development of the said lands was also given by the unknown officials of the finance department, without any resolution to state or union government.

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