Over 4,500 Investors Cheated with False Promises of High Returns and Diamond Gifts. The Financial Intelligence Unit (FIU) of the Navi Mumbai Police has uncovered a massive bogus investment racket where nearly 4,500 people were duped of over Rs47 crore.

Officers have arrested two key suspects Sunil Palve, the Chairman and Managing Director (CMD) of OSSAM Swadesh LLP, and an agent named Navnath Repole. Four other suspects, including marketing directors and agents, remain at large.

According to investigators, the firm lured victims by promising high monthly returns, referral commissions, and diamond gifts allegedly valued at Rs 1 lakh each. To gain credibility, the company initially made timely payouts and distributed the gifts. However, police later discovered the diamonds were inferior low-grade stones worth only about Rs 20,000. Once substantial funds accumulated, the payouts stopped completely. Following an anonymous tip-off, the APMC Police registered an FIR against the suspects under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Banning of Unregulated Deposit Schemes Act, 2019.

“The accused systematically lured investors with unrealistic promises to gain their trust before siphoning off funds,” said Assistant Commissioner of Police (EOW) Vishal Hire. The Economic Offences Wing (EOW) is currently analyzing bank transactions to trace the money trail, and authorities have urged affected investors to step forward with their documentation.

Recent fencing and construction activities in the ecologically sensitive wetlands of Nerul have ignited strong protests from local environmental groups and nature lovers, who fear the work threatens the region’s fragile ecosystem.

Environmentalists from groups like the Save Navi Mumbai Environment Group and NatConnect Foundation have sent urgent appeals to the Maharashtra Chief Minister’s Office and government planning agencies. Activists reported that private construction work and digging in Coastal Regulation Zone (CRZ) areas are generating heavy dust and disrupting bird-rich wetland pockets, which serve as crucial habitats for migratory species like flamingos.

Local campaigners point out that wetlands act as natural urban sponges, absorbing floodwaters and preventing severe waterlogging in surrounding residential sectors during heavy monsoons. Blocking or altering these natural water channels could heighten urban flooding risks across Navi Mumbai.

Members of the High Court-appointed Wetland Protection Committee have pledged to raise the issue at upcoming state meetings, urging authorities to enforce strict buffer zones around protected coastal lands. Environmentalists continue to demand an immediate halt to unapproved construction activities, stressing that urban expansion must not come at the cost of vital biodiversity.

State Officials and Local Civic Bodies Honor Long-Serving Leader Across Maharashtra.

The Tribute

The Navi Mumbai Municipal Corporation (NMMC) paid rich floral tributes to former Maharashtra Deputy Chief Minister late Ajit Pawar on his birth anniversary on July 22.

The commemorative event took place across civic administration offices in accordance with a recent Maharashtra Government directive. State officials, local civic authorities, and staff members gathered to offer garlands and pay respect to the portrait of the late leader, recognizing his extensive contributions to public administration, rural development, and the growth of Maharashtra.

The statewide observance follows a circular issued by the General Administration Department (GAD) of the Maharashtra government. The state officially included the birth anniversary of the long-serving leader in its 2026 calendar of official commemorative events for prominent personalities and national heroes. Under this mandate, all state ministries, municipal bodies, government offices, as well as state-run schools and colleges across Maharashtra observed the day with formal tribute ceremonies.

Addressing the gathering, civic officials recalled Ajit Pawar’s administrative discipline, commitment to civic development, and key role in strengthening regional infrastructure. Leaders across the state, including Prime Minister Narendra Modi and Maharashtra Chief Minister Devendra Fadnavis, also honored the late leader’s enduring public service legacy.