Mumbai Fraud: Accountant Booked For Embezzling ₹31.77 Lakh From Engineering Firm Over 5 Years In Dadar

Mumbai: The Dadar Police have registered a case against Sunil Ramchandra Kadam, an accountant at the Dadar-based Metacaps Engineering Company, for allegedly embezzling Rs 31.77 lakh from the company by transferring funds to his personal bank account under the guise of vendor payments over a five-year period.

Engineer Firm's Funds Siphoned Off Since 2020

According to the FIR, Kadam, a resident of Birchwood, Arsh Avenue Complex, Badlapur (West), had been working with the company since 2019. Between January 10, 2020, and July 14, 2025, he allegedly used the names of company vendors such as Shinde Transport, B.R. Enterprises, and others to divert payments from the company’s Janata Sahakari Bank account in Dadar to his own account at Bharat Co-op Bank in Powai.

As per the complaint filed by company director Gaurav Pramod Jadhav, 32, Kadam was responsible for handling vendor payments, GST filings, and maintaining the company’s bank accounts. He is accused of misusing his access to the company’s finances to transfer funds fraudulently.

Suspicious ₹52,420 Transfer Uncovered Scam

The company operates accounts at Janata Sahakari Bank and Bank of Maharashtra in Dadar. The fraud came to light on July 14, 2025, when a company employee noticed a suspicious transaction of Rs 52,420 to Kadam’s account. On inquiry, Kadam claimed it was a mistaken transfer.

Company Files FIR After ₹31.77 Lakh Loss

However, further scrutiny revealed another transaction of Rs 37,026 just six days earlier. Upon full investigation, the company discovered that a total of Rs 31,77,305 had been unlawfully transferred to Kadam’s account over the span of five years.

Booked Under Bharatiya Nyaya Sanhita

Following the discovery, the company filed a formal complaint at the Dadar Police Station. A case has been registered under sections 316(4) and 318(2) of the Bharatiya Nyaya Sanhita (BNS). The case is currently under investigation.