A senior official of a finance company was booked by Pune police on Monday for cheating a Pune-based businessman of ₹32 lakh under the guise of giving him a loan of ₹16 crore.
A complaint in the matter was lodged by the allegedly wronged businessman identified as Niles Upasni (48), a resident of Tingrenagar in Vishrantwadi, Pune.
“This alleged finance company is located at Wagle Estate in Thane. We are not revealing the name as we are yet to find them,” said police sub inspector LR Satpute of Vishrantwadi police station who is investigating the case.
Upasni is a businessman who had initiated a project of building a chemical plant in Mahad MIDC, according to the police. He was looking for funding of ₹16 crore for the chemical plant to be set-up.
This company offered him the loan, but in form of mortgage investment of ₹32,38,200 against the loan. The amount was exacted from the complainant as well as his business partners, according to his complaint.
However, when Upasni went to the local government office for registration of the project, the finance company representative failed to show up. Upon inquiring further, Upasni found that the finance company office shutters were down and the man who had posed as the company’s national head had switched his phone off, according to the police.
{{/usCountry}}However, when Upasni went to the local government office for registration of the project, the finance company representative failed to show up. Upon inquiring further, Upasni found that the finance company office shutters were down and the man who had posed as the company’s national head had switched his phone off, according to the police.
{{/usCountry}}A case under Sections 406 (criminal breach of trust), 420 (cheating), and 34 (common intention) of Indian Penal Code was registered at Vishrantwadi police station.