Indore (Madhya Pradesh): City crime branch arrested two more accused from Mumbai in a major fraud case involving ready-made garment traders of the city, an officer said on Thursday. The accused had allegedly cheated cloth traders of around Rs 1.69 crore by taking goods on credit and disappearing without making any payment. The accused were hiding in Mumbai to mislead the police and to avoid action against them.
Additional DCP (crime) Rajesh Dandotiya said that one accused in the case had already been arrested from Mumbai. In the present action, the crime branch team arrested Tarik Khan, owner of VR Trading and Pankaj Agrawal, the owner of PWALLS Overseas Limited, both residents of Mumbai following a tip-off. During questioning, both accused allegedly admitted their involvement in the fraud. Further interrogation is going on and more arrests are likely as other associates may be involved.
The accused had contacted ready-made garment traders in the city between July–August 2024 and March 2025. They introduced themselves as reliable brokers and promised to arrange big orders from firms located outside the state. They assured traders that payments would be made within 30 to 45 days and gained their trust by presenting the outside firms as genuine and trustworthy.
Based on these assurances, several traders reportedly supplied large quantities of cloth to many firms. In some cases, cheques were also given as security. However, till date, no trader received any payment. The value of the cheated goods was found to be around Rs 1.69 crore. Further investigations are on into the case.
