Fate of Rs 22 Lacs in Cash in BPP CEO’s Cupboard

The Mumbai Samachar asks about the status of the Rs 22 lacs that was found in the BPP CEO’s cupboard.

The community is aware that cash of more than Rs. 22 lakhs was found in September 2014 in late CEO Mehli Colahs cupboard which on an unanimous complaint of all the then seven Trustees was sealed by the MRA Marg police pending investigations, whether the cash was related to the alleged scam of misappropriation of Rs. 20 lakhs from transfer fees of Dadi House premises of Musharaf Kadar.

After detailed investigation the police found no wrong doing in the cash in the cupboard and issued letter in May 2015 clearing this cash as it belongs to the charity Trust and removed the seal of the cupboard so that the funds could be utilised for community use.

Thereafter the usual self styled vigilantes having their own agendas once again approached the Commissioner of Police and others and convinced them that the police investigation was shoddy and needed to be done properly and hence a fresh letter was issued by police re-sealing the cash in the cupboard.

Subsequently in May 2016 all Trustees including original complainant Yazdi Desai as well as Kersi Randeria now agreed and accepted Musharafs claim that the transfer fees was indeed only Rs. 45 lakhs and not Rs. 65 lakhs as earlier alleged by them. Since full Rs. 45 lakhs had been received by cheques by BPP, the Trustees transferred the rent receipt to the name of Musharaf Kadar.

Thus it is now admitted that there was no actual cash misappropriation of Rs. 20 lakhs out of alleged transfer fees of Rs. 65 lakhs, as transfer fees were indeed Rs 45 lakhs. At the press conference called in July 2016, to the query of Editor, Jehangir Patel of PARSIANA magazine, it was confirmed by Yazdi Desai that the cash of Rs. 22 lakhs found in Mehli Colahs cupboard was not related in any way to the Dadi House transaction but was monies belonging to BPP Trust from different sources.

In view of the demonetization announcement of 8th November, 2016 is it not time that the Trustees moved the Police Commissioner to remove the seal and deposit the full cash in its bank accounts before 30th December, 2016 as mandated by law otherwise these charity funds belonging to the community will become useless paper.

Even if the Trustees still feel that police investigation is still going on and that it is not established that these monies are not related to Dadi House transaction and it would amount to destroying/tampering with evidence then these funds can still be deposited in the bank and kept in escrow pending police investigation. But not depositing the funds in bank would be a gross act of negligence and misconduct and even misfeasance on the part of Trustees not to take care of charity funds.

Have the Trustees bothered to even discuss this issue or is their one point agenda of vendetta blinding them to what is in the interest of the Trust and the community.