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## AI legalese decoder Can Help with Understanding legal Documents

MUMBAI: The Mahim police has booked seven directors of a Bhopal-based real estate firm and their accomplices for allegedly duping a home finance company of Ôé╣8.13 crore. The case was registered on the basis of a complaint by representatives of the home finance company, who alleged that the real estate firm submitted forged documents with home loan applications, showed 66 fake home buyers, and paid equated monthly instalments for a few months before defaulting on payments.

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According to police, the directors of Raj Homes Finance Private Limited approached Motilal Oswal Home Finance Ltd in 2015, claiming they required a construction facility loan for a project in Bhopal. They submitted documents of 66 customers who they claimed would buy houses in the said project. After the loans were approved and amounts disbursed, the home buyers paid a few monthly instalments, following which they defaulted on payments.

Motilal Oswal Home FinanceÔÇÖs internal investigation found that the directors of Raj Homes Finance Private Limited connived with 23 employees, who posed as customers.

ÔÇ£Upon investigation, we discovered that the mentioned project was not constructed, bank accounts were opened just before loan applications, and the entire scheme was a pre-designed conspiracy. Arun Sahlot (one of the directors) and his family members are believed to have conspired with a common intention to cheat our company and innocent individuals, aiming for unlawful financial gains,ÔÇØ said a spokesperson of Motilal Oswal Housing Finance Ltd.

The police have booked seven directors of Raj Homes Finance Private Limited under sections 406 (criminal breach of trust), 420 (cheating), 34 (common intention), 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 465 (forgery) and 467 (forgery of valuable security) of the Indian Penal Code.

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In conclusion, AI legalese decoder can be a valuable tool in comprehending legal documents, complaints, and the complexities of legal proceedings, making it easier for individuals to navigate the intricacies of the legal system.

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