Thane: Construction businessman Kaustubh Kalke has been arrested in Thane on allegations of fraud. Kalke stands accused of fabricating documents to oust two partners from the renowned M. Joshi Enterprises company in Thane. The Naupada Police made the arrest on Friday, while two other individuals implicated in the case remain at large, prompting an ongoing search operation by authorities.
The case stems from a complaint filed by Sunil Gangadhar Limaye, a partner at Joshi Enterprises Company. The company, a prominent player in Thane's construction sector, has been embroiled in controversy following the alleged fraudulent activities orchestrated by Kalke. Originally founded by Kalke himself, M. Joshi Enterprises saw Sunil Limaye and Jayantilal Jain join as partners on July 21, 2022. The company's construction projects span across various areas in Old Thane, including Naupada, Tin Haat Naka, Charai, and Pacpakkhadi.
Disputes among the partners escalated, ultimately reaching the doors of law enforcement. Sunil Limaye's complaint accuses Kalke of colluding with Kamisha Danbahadur Singh and Sundarraj Hegde to orchestrate the removal of Limaye and Jain from the company. Allegedly, forged signatures were affixed onto retirement agreements, which were then submitted to both the bank and the company registrar. The complaint prompted the Naupada Police to take action, resulting in Kalke's arrest on Friday. The Thane court subsequently remanded him into police custody for six days.
Meanwhile, Kamisha Singh and Sundarraj Hegde, the other alleged accomplices, remain fugitives as the police intensify efforts to locate and apprehend them.
The arrest of Kaustubh Kalke underscores the importance of transparency and integrity within the business community, particularly in the construction sector. Authorities continue their investigation into the matter, aiming to ensure justice is served and accountability upheld in this case of alleged fraudulent activity.