In a setting known for calm and community, Blue Ridge Co-operative Society in Hinjawadi now finds itself at the heart of a troubling financial storm. Tower 9 to 14 of Unit-B, once symbols of peaceful living, are now under the cloud of an alleged ₹98.75 lakh financial misconduct that spans over five years.
The accusations stretch from April 2019 to September 2024, where five individuals from the managing committee are said to have misused their authority. Allegedly, they issued unauthorized cheques, made suspicious transfers, and used society funds for personal benefit, all without the knowledge or approval of the General Body. These serious concerns led the current society leadership to seek redress from the Pune Co-operative Court.
Secretary ChandrasekharaReddy Madireddy, who brought the case to light, emphasized that these financial dealings were carried out in violation of the society’s core rules. He noted a particularly questionable cheque of ₹7.7 lakh cleared in May 2024 without any legal backing. This incident led to a detailed audit by RMJ and Associates LLP, revealing deeper concerns.
The audit highlighted:
Payments made to unrelated third parties
₹17 lakh directly deposited into an ex-committee member’s account
Poor tax practices that forced the society to break fixed deposits worth ₹5.16 lakh to pay penalties
The society has since filed a case requesting that those named—Subrat Mishra, Kiyath Jayaprakash Nair, Chandrashekhar Patil, Vijaya Raghunathan, and Soham Dalvi—return the money with interest. They’ve also asked for an interim order to block these individuals from selling their flats without society approval.
Acknowledging the seriousness, the court has sent show-cause notices to the accused and has asked them to appear on July 16 at 11 in the morning.
This case is a reminder that in shared communities, watchfulness is wisdom. As the residents await justice, they hope this chapter becomes a lesson in preserving honesty, unity, and accountability.
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