Delhi bizman held in connection with ₹46-crore fraud case
Mumbai: The Economic Offences Wing (EOW) of the Mumbai police has recently arrested a Delhi-based businessman in connection with a ₹46-crore fraud case
Mumbai: The Economic Offences Wing (EOW) of the Mumbai police has recently arrested a Delhi-based businessman in connection with a ₹46-crore fraud case.
The arrested accused, Sharad Virani, allegedly helped the prime accused in defrauding a Mumbai-based pharmaceutical material supplier.
The cheating case was registered in 2016 following a complaint lodged by businessman Sanjay Sanghvi. According to the Sanghvi, two directors of Someel Enterprises Pvt Ltd—Mitesh Mehta and Sanjay Shah—between April and November 2016 purchased raw materials required for making medicines on a 90-day credit from Sanghvi and 47 other suppliers. They sold the material to traders in Delhi, Haryana and Indore and misappropriated the sale proceeds.
According to the EOW sources, Shah was arrested after registration of the case, however, Mitesh Mehta fled the country.
The FIR was registered at Lokmanya Tilak Marg police station in 2016 and was later transferred to the EOW for investigation. The EOW officials recorded statements of directors of 31 companies to whom the accused had allegedly sold the raw material.
The investigation revealed that Virani had through three companies purchased raw material worth ₹57.23 crore without a purchase receipt from Someel Enterprises Pvt and sold it to other firms in connivance with the prime accused.
During interrogation, Virani, however, claimed that he had purchased material only worth ₹3 to ₹4 crore from the prime accused.
