Mumbai: A 66-year-old textile thread exporter, Kalam Shankar Lal Binani, was allegedly defrauded of around Rs78.64 lakh under the pretext of investing in a second-hand luxury car business. The Bandra police registered an FIR against Mohammad Ali Altaf Furniturewala, 44, on December 26 for allegedly cheating him.
About The Case
According to the FIR, the complainant, Binani, resides and operates his business in Andheri West. He was introduced to Furniturewala through his nephew, Parag Binani, in 2016. Furniturewala allegedly claimed that he was running a business of buying and selling second-hand luxury cars in Bandra West and lured the complainant with the promise of a 50 per cent partnership and a guaranteed return of one per cent per month on the investment.
From March 2016 onwards, Binani invested a total of approximately Rs1.79 crore through RTGS transfers, cheques and cash. Of this amount, Furniturewala returned over Rs1 crore. However, he allegedly failed to return the remaining Rs78.64 lakh. Instead of the outstanding amount, Furniturewala reportedly handed over two luxury cars, a BMW and a Toyota, to Binani.
However, the complainant alleged that Furniturewala later took back the vehicles under the pretext of selling them and sold them off without his knowledge. A cheque issued by Furniturewala for repayment was returned by the bank due to a signature mismatch. Despite repeated follow-ups, Binani did not receive the remaining amount and subsequently filed a cheque bounce case in the Andheri court. During the inquiry, it emerged that Furniturewala had allegedly defrauded several other people as well, and multiple cases have been registered against him.
The complainant has also filed a separate case against Furniturewala’s wife, Falak, in the Jalna court, alleging that she cheated him of Rs1.30 crore. Alleging that there was an intention to cheat from the very beginning, Binani approached the police seeking legal action to recover the amount he invested as well as the two cars involved in the case.
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