Mumbai-based man cheats Delhi bizman of ₹4.5cr, held

The complainant said he supplied raw materials to the company owned by the Mumbai-based businessman to turn them into packaging material.

The economic offences wing (EOW) of Delhi Police on Sunday said they arrested a 55-year-old businessman from Mumbai who manufactured packaging material for allegedly duping a businessman from Delhi to the tune of over ₹4.5 crore.

Police said they found proof the papers were forged during the probe, and arrested the businessman, identified as Shankar Kashid, a resident of Kandivali (East) Mumbai, on February 24. (Representational image)

The complainant said he supplied raw materials to the company owned by the Mumbai-based businessman to turn them into packaging material. However, the alleged accused sold the finished product to a third party and forged papers to claim that the items were delivered to the complainant.

Police said they found proof the papers were forged during the probe, and arrested the businessman, identified as Shankar Kashid, a resident of Kandivali (East) Mumbai, on February 24.

The complainant VK Sinha had lodged a complaint of cheating, forgery and criminal conspiracy with the EOW in 2020, said joint commissioner of police (EOW) Chhaya Sharma.

“The alleged company, after converting raw materials into finished product, was to dispatch it to the parties as per the direction of the complainant company. Some materials were fraudulently sold to unknown customers and fewer inventories were reported by the alleged. The alleged company was stated to have caused a loss of over ₹4.53 crore to the complainant’s company. A case was registered and investigation was taken up,” said the joint CP.

During the investigation, joint CP Sharma said a notice was sent to Kashid, seeking his reply to the allegations. However, he didn’t respond properly and never joined the investigation. He always tried to avoid appearing before the investigating team. “Kashid claimed through a forged confirmation letter that Sinha’s company received all the items but never submitted the original copy of the letter,” she added.