The Navghar police are on the lookout for three men who allegedly swindled an Indore-based businessman of more than Rs2 crore under the pretext of facilitating a Rs100 crore loan. In his complaint to the police, the businessman Ketan Agarwal stated that he is one of the directors of a private limited company, which manufactures cotton bales in Indore.
Details of case
The company suffered huge losses and defaulted in repaying loans availed from various banks. Since the company fared in the defaulters list, none of the nationalised banks were ready to grant further loans prompting Agarwal to look for private finance companies to bail him out of the crisis. During his online search, he came into contact with an agent Dinesh Keswani who agreed to facilitate the loan and called him to Bhayandar.
Agarwal met Keswani and his associate Indermal Jain and handed over the documents at a hotel in Bhayandar in March 2015. He was later introduced to another person Mahendra Vanmali. Under the pretext of commissions, processing fees, survey, spot visits and other formalities, the trio fleeced more than Rs2.03 crore from the complainant and his partner between March 2015 to December, 2018, via cash and online transfers.
The complainant alleged that the trio gave him a demand draft worth Rs60 crore in September, 2019, which turned out to be forged, followed by another dud cheque of Rs40 crore.
Last week, the complainant registered a formal complaint against the trio. An offence under sections 120 (b) for criminal conspiracy, 406 (breach of trust) and 420 (cheating) of the Indian Penal Code has been registered.
