Chandannagar police book four for ₹1.75 cr fraud

he accused have been charged with selling off the rented equipment of the company and taking commission against releasing work orders with a higher market rate

PUNE

The crime was reported between January 2019 and August 25, 2023. (REPRESENTATIVE PIC)

The Chandannagar Police have lodged an FIR against four employees of a construction company including its project director for cheating the company to the tune of ₹1.75 crore.

The accused have been charged with selling off the rented equipment of the company and taking commission against releasing work orders with a higher market rate, causing loss to the company. The crime was reported between January 2019 and August 25, 2023, at AIGP, ITTP Project, and Vector Project belonging to L and W Construction Private Limited, Kharadi.

Company general manager (Security) Subir Banerjee lodged the FIR at Chandannagar police station based on which project director Vijay Kumar Mathakumar, general manager Basavraj Channagi and two other employees have been booked under IPC sections 406,408, 409, 420 and 34. According to the police, the company had hired equipment on a rental basis and responsibility was with Mathakumar. He misused his position and along with the help of other accused, sold the equipment in the market for a sum of ₹1.34 crore and took hefty commissions from vendors and subcontractors by inflating the work order sums, the complaint stated.