Mumbai News: Businessman Loses ₹1.53 Crore In Investment Scam

Mumbai: A businessman has filed a case against one of his acquaintance’s family alleging that they cheated him out of ₹1.53 crore by forcing him to invest in their company.

The case was filed against four individuals.

Businessman forced into investing in family's firm

According to the FIR, Vinit Surve (38) is a businessman living in Borivali (East), who has known the Indulkar family for the last six years. He came into contact with Prafull Indulkar for work a few years ago. Prafull advised Surve to invest in the family’s company, promising good returns. In 2022, Surve met Prafull’s son Kunal, who provided information about various companies.

The family presented MK Enterprises as their own investment company and showed documentation. Kunal assured Surve that if he partnered with the company and invested in various firms, he would receive returns between 25% and 100%.

Surve agreed and transferred ₹1.53 crore between March 2022 and July 2022 in the family company’s HDFC account. In November 2022, Surve inquired about a company in which the family claimed to have invested his money, only to discover that they had not done so. When Surve confronted Kunal, he assured him that everything was good.

Businessman finds out he was duped

After a few days, Surve visited the companies in which the family claimed to have invested his money, but found that not a single firm had received his investment.

Eventually, Surve filed a case against Kunal, Pranali Indulkar, Aniket Indulkar and Rita Jagdale at various police stations. The case was filed under sections of the Indian Penal Code and Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999, on October 18.