Dr. Marukh Mirza, former Vice-Chancellor of Khwaja Moinuddin Chishti Language University, has been defrauded of about ₹2.11 crore in connection with a flat purchase in Lucknow, he said. This case has led to the registration of an FIR against a real estate company, its director, his son and others. Police are investigating allegations that a loan of ₹94.30 lakh was made in Mirza’s name and that other home loans of ₹1.17 crore were secured through documents that he said were forged.
The FIR was registered by Kaiserbagh police after a court order. The complaint names New Con Buildwell Private Limited, a unit of Shri Balaji Construction, and its director Natwar Goyal, his son Himanshu Goyal and other people involved.
The investigation is also looking into the alleged involvement of people associated with five banks. Police will look through the loan applications and property documents, financial transactions and other records to figure out how much financial irregularities were done.
According to Prof. Mirza's complaint, he was planning to buy a flat in Lucknow in 2023 and met with Natwar Goyal and son Himanshu. The two showed him two flats (103 and 104) at Cine Grand Apartment in the Lalbagh area of Kaiserbagh. After the discussion on the proposed purchase, one flat was given a price of ₹52.50 lakh and the second was given a price of ₹55 lakh.
The complaint alleges that on 14th December 2023, the loan of ₹94.30 lakh was made in Mirza’s name for purchase. Mirza claims the loan was taken away even though the two flats were not sold. He also states he did not get the rightful possession of the properties and was not given a satisfactory explanation about the handling of the loan proceeds.
The allegations got worse when Mirza discovered that his documents had been used to make more home loans from several banks. Loans amounting to ₹1.17 crore were secured in five banks, he said. He believes that forged documents were used in these transactions and has also asked whether bank officials were involved with this process.
The police are now looking at how the loan applications were prepared and processed. The investigators will verify the documents submitted to banks in the first place - signatures, identity records, property and accounts in which the loan amounts were transferred, for example. The investigation will also look for instances when the same documents or personal information were used repeatedly to obtain loans from different financial institutions.
Mirza was aware of the supposed financial irregularities after receiving notices from banks, the complaint said. He received bank notices on June 8, 2025, followed by notices on possible legal action that were apparently pasted at his flat on June 13, he said. This is when he got the information about the loans and approached the police, he was said to have said.
The total financial loss reported in the case is ₹2.11 crore. Investigators will follow the money trail to find out where the loan money went and who benefited from the transactions. Loan and property records and conversations between the parties will play a major role in determining the facts of the case.
The police investigation is also due to examine the role of the other individuals named in the complaint. If there is evidence that more people were involved in the alleged transactions, legal action could be taken. Authorities will question the concerned people and check their statements against documentary and financial evidence.
The real estate company has also denied the allegations. R.K. Srivastava, General Manager (Sales) of New Con Buildwell Private Limited, stated that fraud allegations were baseless. He said Mirza had signed an affidavit after purchasing the flats and the company had not done any fraud against him.
The case shows the risk of property transactions because of large loans, multiple documents and multiple financial institutions. Property transactions have to be accompanied by a lot of documents to convey the transaction such as sale agreements, loan applications, identity documents and registration data. Any misuse or falsification of such documents can lead to great financial and legal problems for the person whose identity is used.
The application for loans from Mirza’s documents has also raised questions about verification procedures. How the applications were approved by banks and whether checklists were followed by the institutions involved will be key to determining whether fraud, procedural lapses or other problems existed.
The allegations against the named individuals are still being investigated and verified. FIR registration does not by itself imply guilt and the allegations made by the complainant will have to be examined against evidence collected by the police. The accused parties will then be able to present their defence in the legal process.
The investigation will focus on the alleged ₹94.30 lakh loan, the additional ₹1.17 crore in loans, the two flats at Cine Grand Apartment and the movement of funds connected with the transactions. Police will also investigate the purported forged documents and the possible involvement of other people.
As the case goes on, the financial and property records will offer crucial evidence in determining what happened to the loan amounts and whether the alleged fraud took place. The outcome of the investigation will depend on the evidence gathered by the authorities and any further findings regarding the individuals and institutions named in the complaint.
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