Nagpur: Two brothers of Nagpur — Mahesh Chandrabhan Kingrani and Rajesh Chandrabhan Kingrani – accused of allegedly demanding Rs 200 crore ‘extortion’ from city-based JP Group Director Jaiprakash Khushlani have been granted interim bail by a Nagpur court.
The alleged demand for Rs 200 crore as ‘extortion’ had shaken the business circles of Nagpur.
According to a prolonged probe by the Economic Offences Wing (EOW) of Nagpur Police has revealed that the Kingrani brothers, residents of Shivaji Nagar, Dharampeth, had invested crores in JP Group’s various projects from 2019 onwards. The key dispute revolved around JP group’s various properties at Bokhara, Gaddigodam, Dus Number Puliya and an upcoming project at Nandanvan.
According to police, certain sale agreements between the groups were learnt to be initially treated as ‘security’, and mortgage documents. Two years ago, the Kingrani brothers wanted their investment back. The JP Group said they were willing to repay their investment with interest only after the Kingranis returned the property documents ‘mortgaged’ to them. But the Kingrani brothers refused to return the documents and demanded Rs 200 crore else they would grab JP Group’s properties, said police. Their threats led to a series of complaints, counter-complaints, legal notices, and litigation.
The EOW had filed an offence with the Sadar police station against Kingrani brothers in late March. The complainant Jaiprakash Gurudasmal Khushlani (57), resident of Byramji Town, and Director of JP Group, wanted to return the Kingrani brothers’ investment with interest for which he had supporting documents to substantiate his claim.
Following the complaint by Khushlani, the EOW of Nagpur police had launched an in-depth investigation into the matter.
