BENGALURU: Eighteen members of the Prince Town Apartment Association in Shettihalli, Bagalagunte police limits, were booked for allegedly misappropriating Rs 1.73 crore. The residents accused the office-bearers of financial irregularities, inflated expenses and fund diversion to personal accounts.
The complaint was filed by Nisha Jangra, an advocate residing at the apartment complex comprising around 700 flats. The police booked association president Arun Kulkarni, secretary Alex Punnenn, treasurer Praveen Naryankar, joint secretaries Sandeep Srivastava and Sharanappa B, along with other members. The FIR stated that the accused, who held office during 2023–24 and 2024–25, allegedly conspired to misuse association funds collected as maintenance charges from residents.
But, the complainant pointed out, inflated and irregular expenditures included Rs 2,11,700 as Bengaluru Water Supply and Sewerage Board (BWSSB) waterman charges, Rs 13.5 lakh as old expenses and salary payments were shown as Rs 12.5 lakh and Rs 24.9 lakh, while garbage clearance expenses stood at Rs 3.2 lakh. Expenses without GST were shown as Rs 36 lakh for 2023–24 and over Rs 25 lakh for 2024–25.
The complaint also alleged fund transfers to personal accounts, including around Rs 3.5 lakh to Hiremath, close to Rs 1.3 lakh to Praveen Naryankar, and Rs 29.8 lakh to other individuals.