Two booked for duping people of ₹7cr on pretext of investing in vehicle rental business - Hindustan Times
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Two booked for duping people of 7cr on pretext of investing in vehicle rental business

Dec 02, 2023 09:38 PM IST

Wakad police identified the accused as Sandeep Kumar Lal Bahadur, a resident of Baner and Sima Mittal, a resident of Bhumkar Chowk

Pimpri Chinchwad police on Friday booked two people for duping at least 732 people for 7 crore by luring them to invest in a three-wheeler vehicle business.

Police said a man named Virendra Kate was also duped by the accused duo by offering him a franchise of the company against which Kate paid <span class='webrupee'>₹</span>17.75 lakh. (REPRESENTATIVE PHOTO)
Police said a man named Virendra Kate was also duped by the accused duo by offering him a franchise of the company against which Kate paid 17.75 lakh. (REPRESENTATIVE PHOTO)

Wakad police identified the accused as Sandeep Kumar Lal Bahadur, a resident of Baner and Sima Mittal, a resident of Bhumkar Chowk.

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A complaint in this regard has been filed by Suhas Rameshchandra Rakshe (49), journalist.

Police said the accused had formed Rentolo company in Wakad area in Pimpri Chinchwad city. They lured people to invest 4.20 lakh with their company and purchase three-wheeler tempo from them. They said they would rent out that tempo and would pay 31,000 every month to investors for three years.They will also take care of the drive and maintenance part of the vehicle.

Lured by the attractive offer, the complaint invested in the company on June, 13 and signed an agreement with the accused director of the company.

However, on November 10, the complainant received 12,000 from the company, which was less than the agreement amount. Hence he called the company seeking clarification, but the company representative informed that he had received lesser amount due to a policy change.

Unhappy with the development, the complainant visited the office and figured out he was duped.

Police officials from the Wakad police station said, “At least 732 people were duped by the director of the company by luring them with attractive scheme and after collecting 7 crore, they absconded.’’

Police said a man named Virendra Kate was also duped by the accused duo by offering him a franchise of the company against which Kate paid 17.75 lakh.

A case was registered at Wakad police station on Friday under sections 420 (cheating and dishonestly inducing delivery of property), 406 ( criminal breach of trust), 34 of the Indian Penal Code (IPC) and sections 3,4 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999.

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