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        Corp. Laws / SEBI / IBC

        Union minister Mohol trashes charges against him in Jain trust property sale matter

        October 19, 2025

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        Pune, Oct 19 (PTI) Union minister Murlidhar Mohol on Sunday dismissed allegations against him over the sale of a Jain trust property in Pune, saying he was not associated with the builder when the deal in question was formalised.

        Farmers' leader and former MP Raju Shetti has alleged that Mohol, the BJP MP from Pune, was involved in the matter of the proposed sale of a prime property belonging to the Seth Hirachand Nemchand Jain Digambar Boarding to a private builder.

        The upmarket property in Model Colony, measuring around 12,000 square metres (3.5 acres ), houses a several-decade-old Jain boarding facility and the Shri Bhagwan Mahavir Digambar Jain Temple, both of which are part of the Seth Hirachand Nemchand Smarak Trust, a charitable trust established in 1958.

        The said property has been acquired by Pune-based Gokhale Constructions for Rs 311 crore from Seth Hirachand Nemchand Memorial Trust.

        Thousands of Jain community members held a protest on Friday, alleging that a few trustees have entered into an agreement with the developer and sold the property in violation of the trust's constitution.

        The Opposition NCP (SP) on Saturday extended support to the protest and demanded a thorough investigation and suspension of the ongoing project.

        Speaking to reporters here on Sunday, Mohol said, "Raju Shetti should have spoken to me once while making such a serious allegation. I would have placed the true situation before him." Mohol said that during the purchase of the property, all transactions were carried out by Gokhale Builders, yet the allegation was made against him, which he denied.

        "There were two LLPs with Gokhale - both were partnership firms. In 2023, Vishal Gokhale created two LLPs (Limited Liability Partnerships). In 2024, when I withdrew my name, not a single rupee transaction took place between us. I resigned from both LLPs on November 25, 2024," the BJP leader said.

        "The trustees of Jain Boarding held a meeting on December 16 (last year), where this issue was discussed and they decided to go ahead with redevelopment. Gokhale completed the sale deed with the trustees on October 8 this year, while I withdrew my name from the LLPs back in 2024, that is 11 months earlier. Not a single member of the Jain community has accused me. In fact, I have been trying to understand their concerns and see how I can help them," he added.

        Mohol said that after working for 32 years, it was disheartening that a baseless allegation was levelled against him.

        "I have shared the full report (of withdrawing his partnership with the builder) with everyone and requested not to make false accusations. The day I feel I have done something wrong, I will step aside myself," he said.

        "I had clearly declared in my Lok Sabha poll affidavit that I am engaged in agriculture and construction work. I have worked in several companies at various places in Pune. I have conducted my business transparently and presented all the documents," the Union Minister of State for Civil Aviation said.

        Asked about his partnership with the builder (Gokhale) in Pune city, he said, "The law and the provision clearly states that if I am the minister of this country, I am not allowed to do any job or have a partnership with any company." On Shiv Sena leader Ravindra Dhangekar's allegations against him in the matter, Mohol said Dhangekar is frustrated and he does not want to comment on him.

        Dhangekar lost the last year's Lok Sabha poll, fought on Congress ticket, against Mohol in Pune. He quit the Congress and joined the Shiv Sena, which is an ally of the ruling BJP, in March this year. PTI COR SPK GK

        Conflict of interest concerns in trust property sale denied after minister's earlier resignation from developer partnerships and disclosures. Allegations concern trustees' sale of a charitable trust property to a private developer, community claims of violation of the trust constitution, and calls for investigation. The minister denies involvement, stating he resigned from developer-linked partnerships before the sale deed and disclosed business interests, framing the issues as trustee authority, documentary proof of the transfer, conflict of interest timing, and compliance with disclosure and statutory restrictions on ministers' business associations.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Conflict of interest concerns in trust property sale denied after minister's earlier resignation from developer partnerships and disclosures.

                                Allegations concern trustees' sale of a charitable trust property to a private developer, community claims of violation of the trust constitution, and calls for investigation. The minister denies involvement, stating he resigned from developer-linked partnerships before the sale deed and disclosed business interests, framing the issues as trustee authority, documentary proof of the transfer, conflict of interest timing, and compliance with disclosure and statutory restrictions on ministers' business associations.





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