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By:

Abhijit Mulye

21 August 2024 at 11:29:11 am

Multi-Crore ‘Land Jihad’ unearthed

Lawyer reclaims grabbed properties, exposes administrative lapses Advocate Sanjeev Deshpande Mumbai: In Bhusaval, a glaring example of what is being termed ‘Land Jihad’ has recently been brought to light, exposing a systematic grab of prime real estate worth hundreds of crores. At the center of this revelation is a hard-fought legal victory that successfully vacated ill-intentioned occupants from a plush property, prompting urgent calls for the administration to remain vigilant against...

Multi-Crore ‘Land Jihad’ unearthed

Lawyer reclaims grabbed properties, exposes administrative lapses Advocate Sanjeev Deshpande Mumbai: In Bhusaval, a glaring example of what is being termed ‘Land Jihad’ has recently been brought to light, exposing a systematic grab of prime real estate worth hundreds of crores. At the center of this revelation is a hard-fought legal victory that successfully vacated ill-intentioned occupants from a plush property, prompting urgent calls for the administration to remain vigilant against fraudulent land acquisitions. The catalyst for uncovering this massive scam was a protracted legal battle fought by the Central Cine Circuit Association (CCCA), an organisation comprising over 800 film distributors across Maharashtra, Madhya Pradesh, Chhattisgarh, and Rajasthan. Seeking a headquarters and guest house for their traveling members, the CCCA purchased a sprawling 5,000-square-foot bungalow in a prime locality in Bhusaval from a senior Parsi individual residing in Mumbai. Although the sale deed was executed in 1993, the notice of ownership change inexplicably failed to reach or was ignored by the local city survey office. This administrative blind spot lay dormant until 2024, when the family of one Afzal Kalu Gawali forcibly entered the premises and took illegal possession of the property. Physical Muscle Lacking the physical muscle to evict the encroachers, the CCCA was forced into an agonising two-year legal marathon spearheaded by Advocate Sanjeev Deshpande. The fight demanded navigating a labyrinth of government offices, from the Sub-Divisional Magistrate (SDM) and Bhusaval Sessions Court to the revenue tribunal, the High Court, and even Mantralaya. The process involved digging through decades-old records, exposing forged documents, and pleading with officials to rectify the injustice. The persistence finally paid off when the SDM ruled in favor of the CCCA on April 9, 2026. When the illegal occupants still refused to leave, police intervention was secured to forcibly vacate the premises, allowing CCCA employees to finally re-enter their headquarters on April 16 after a gap of nearly two years, said Sanjay Surana, president of CCCA. Fight Continues For Deshpande, the fight is far from over. During his exhaustive hunt for documents, he uncovered a deeply disturbing and systematic pattern of land grabbing operating in the region. The conmen utilised a calculated modus operandi. They tactfully acquired a power of attorney from the descendants of the original Parsi owners and forged purchase documents. Shockingly, the paperwork claimed that the CCCA bungalow, currently valued at around Rs 5 crore, was purchased by daily wage earners for a mere Rs 6 lakh. Deshpande discovered that this same syndicate had successfully encroached upon other highly valuable plots, including a six-acre cemetery (Aramgah) belonging to the Parsi Anjuman Fund and a significant parcel of land owned by the Masonic Lodge, an international religious institute. In total, the collective value of these illegally grabbed properties is estimated to easily surpass Rs 300 crore. The Masonic Lodge property is back to rightful owners after a battle at the High Court. But, for the Aramgah property, still much needs to be done, he said. This staggering real estate heist points to a severe breakdown in administrative oversight. Deshpande strongly emphasises that if the office of the Sub-Registrar at Bhusaval had conducted even a preliminary inquiry or verified the glaringly disproportionate financial details of these transactions, the fraudulent nature of the sales would have been immediately apparent.

India’s Budget and the Road Ahead

Updated: Jan 29, 2025

Part 1:

As coalition politics reshapes governance and global tensions mount, India’s economy balances cautious optimism with emerging challenges in the run-up to FY 2024-25.

India’s Budget

January brings a wave of positivity and hope for everyone as the new year ushers in fresh resolutions and optimistic plans for the future. Financial planning takes centre stage during this time, both at an individual and policy level. The Central Government prepares for the upcoming Budget session of Parliament, where the General Budget is discussed and adopted, setting the economic tone for the country.


The anticipation around the budget creates excitement and expectation, as people look forward to potential benefits and improvements in various sectors. Recently, Budget Day has generated significant buzz and glamour in the media corridors. Ironically, it’s said that there is an exponential rise in the number of economists in the country around this time, which subsides within a few days. One day before the General Budget, the government tables the Economic Survey, an equally critical document that doesn't receive as much attention. The Economic Survey provides an analysis of the previous year's economic performance, including in-depth analysis of various indicators and concludes with estimates and recommendations for the upcoming year. The General Budget outlines the government’s plans for the upcoming year, including financial allocations and policy measures, and estimates the revenue and expenses of the Government of India. Fundamentally, the Economic Survey serves as the basic guideline document on which the government formulates its plans in the General Budget. It is imperative to study both documents together to gain a holistic view of the Indian economy.


Before delving into the actual numbers, it is essential to set the context. The previous two financial years saw a recovery from the pandemic shocks, with very high growth rates. FY 23-24 witnessed a GDP growth of 8.2 percent, and hence, at the advent of FY 24-25, positive sentiments were at their peak. The first quarter, being an election quarter with the model code of conduct in force, saw no major policy actions by the Government. Much to everyone’s surprise, the BJP lost its majority in the results, but the NDA together garnered the majority numbers. After ten years, the country again witnessed a coalition Government, which at this stage seems stable and strong. However, coalition governments face their own limitations, and there is a risk of delays in implementing critical reforms. The government had to change gears, and the country saw some critical bills referred to the Joint Parliamentary Committee for consideration and recommendation. Against this backdrop, the RBI projected a quarter-on-quarter average growth rate of 7.2 percent, while the Economic Survey report estimated growth within a range of 6.5 percent to 7 percent.


As discussed earlier, government spending had certain limitations, focusing only on ongoing projects, which resulted in sluggish growth. The country witnessed a GDP growth rate of 6.7 percent during Q1 of FY 24-25. Compared to previous general election quarters, it was the highest rate since Q1 FY 04-05. However, Q2 FY 25 fell short of the RBI's expectations, with a growth rate of 5.4 percent, attributed to rising prices and a sluggish increase in government capital expenditure. Corporate results for Q2 were also lacklustre, creating negative sentiments in the capital markets. Rising inflation concerns prompted the RBI to maintain policy interest rates. The RBI did aggressive intervention in the currency markets which resulted into a steady Dollar exchange rate. It was evident that due to the protectionist policy of RBI the rupee has been overvalued. Recently, the RBI has stopped active intervention, and the Rupee has started depreciating. While Q3 numbers are still awaited, it is projected that Q3 will witness a bounce back in economic activity, mainly driven by the festive season.


Globally, tensions flared as the Israel-Hamas conflict escalated, with Israel launching attacks on Hezbollah in Lebanon and Iran directly confronting Israel. Despite the Middle East volatility, crude oil prices remained relatively stable, and the Russia-Ukraine war had minimal impact on India. Meanwhile, Donald Trump’s aggressive campaign for a return to power stirred global unease, promising a stronger ‘America First’ stance. Biden's tightened sanctions on Russia will disproportionately affect nations purchasing Russian crude. Combined with rising oil prices and a depreciating rupee, these factors are expected to strain India's economy in Q4, with inflation looming. The government's foreign policies, it seems, will be tested more than its economic strategies.


(The author is a Chartered Accountant and works at Authomotive Division of Mahindra and Mahindra Limited. Views personal.)

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