Kolhapur: Investors Hold Sit-In Protest Against Businessman Nerlekar who Failed to Return Crores of Rupees

Kolhapur: Over 30 investors from across Kolhapur district held a sit-in protest in front of the residence of businessman Rajendra Bhimrao Nerlekar in his Hupari residence near Shivaji Chowk on Sunday, demanding the return of crores of rupees they had invested in his schemes.

The investors, who have been protesting since Sunday, have brought along food and utensils, and have vowed not to leave the businessman's doorstep until they are paid back.

According to the investors, Nerlekar had promised them hefty returns on their investments but has failed to deliver on his promises. Many of them had invested by reference of Deshbhushan Deshmane from Uttur. They have alleged that Nerlekar has used their money for other purposes, including real estate investments.

Investors, including Deshmane from areas such as Ichalkaranji, Hatkanangle, Uttur, Gadihglaj, Radhanagari, Kagal, Kolhapur City, and Nipani are now part of the sit-in against Nerlekar.  There was a similar protest last Diwali which was foiled by Nerlekar by invading police, politicians, and gang members who promised a return of investments. Some were able to receive money but did not share it with the investors. 

Nerelkar is alleged to have used the money for investments in Real Estate, Crypto Currency, and Share marketing. During the Sunday protest, Nirlekar was not home and his wife offered to discuss which the protestors declined. 

This is not the first time that Nerlekar has faced protests from investors. In December last year, Jain monk Nimittasagar Maharaj held an indefinite hunger strike in front of Nerlekar's residence, demanding the return of Rs 23 crore that he had invested. The hunger strike was called off after the intervention of members of the Mahavir Gaat and the South India Jain Sabha. It was then agreed that Nerlekar would pay Maharaj Rs 40 lakh. However, it is unclear whether Maharaj has received the money, or where he is currently located.

The investors who are currently protesting have said that they will not leave Nerlekar's doorstep until they are paid back in full.