Clothing brand Libas' chairman says cheated of Rs 2.8 crore by designer Reshma Gangji

It is alleged that Gangji took money from Mahimtura to settle a dispute with his aunt but didn’t pay the money to the latter; she had actually bought the shares of Libas Designs Private Ltd in her own name with the money.

Vishal SinghUpdated: Wednesday, January 04, 2023, 12:38 PM IST
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Riyaz Gangji (left) and Reshma Gangji (right) | Instagram

 Mumbai: The Gamdevi police have registered a case against Reshma Gangji, fashion designer and managing director of Libas Designs Private Limited, and a friend of hers, for allegedly duping the firm’s chairman, Nishant Mahimtura, to the tune of Rs2.8 crore. The case was lodged on the basis of Mahimtura’s complaint, the police said.

It is alleged that Gangji took money from Mahimtura to settle a dispute with his aunt but didn’t pay the money to the latter. The police said Mahimtura, Gangji and her husband Riyaz Gangji, who is the executive director of the firm, have equal shares in the company. Gangji allegedly took Rs 2.80 crore from Mahimtura via three cheques on the pretext of reconciliation with his aunt.

Gangji borrowed money to buy shares of Libas in her name

When Mahimtura questioned Gangji, she said her friend would facilitate a reconciliation. Later, both Gangji and her friend allegedly began ignoring Mr Mahimtura’s phone calls. When he came to know that she had bought the shares of Libas Designs Private Ltd in her own name with the money, he realised he had been cheated.

Riyaz Gangji defends his wife

An officer of the Gamdevi police said that Mahimtura’s written complaint along with the complete papers of the cheating are with the police and an FIR has been registered.

The police have registered a case under sections related to cheating, dishonestly inducing delivery of property, and criminal breach of trust. Riyaz Gangji said, “My wife is innocent.” Mahimtura declined to comment.

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