Mumbai, Jan 14: Mohammed Farukh Hanif Shaikh (46), a garment export businessman residing at Dongri, has lodged a complaint on January 6 at Dongri Police Station against former company director Prabhakarnath Subhashchandra Mishra.
Allegations of cheating and breach of trust
According to the complaint, Mishra has been booked for cheating, criminal breach of trust, theft, criminal intimidation and extortion in connection with matters related to Navhush Mercantile Pvt. Ltd.
Statement recorded by police
Shaikh appeared at Dongri Police Station after being summoned for inquiry by Police Inspector Sachin Kotamire and gave his detailed statement. Shaikh is the promoter of Navhush Mercantile Pvt. Ltd.
He stated that Prabhakarnath S. Mishra was appointed as a director of the company in January 2025 and was being paid a monthly salary of ₹25,000. Mishra resigned from the company on November 2, 2025. Following his resignation, a new director, Akash Kaushik Pawar, was appointed as per the board resolution dated October 31, 2025.
Office break-in and theft alleged
Shaikh alleged that after resigning, Mishra made a duplicate office key and on November 8, 2025, entered the company premises and stole cheques, important documents, two desktop computers, one laptop and a printer.
On November 12, 2025, Mishra, along with director Ratnesh Kumar Mishra, visited AU Small Finance Bank, Kalbadevi branch, and falsely claimed to bank officials that he was still a director.
He allegedly obtained Ratnesh’s signature on a letterhead without the knowledge of the company promoters. He further claimed the cheque book had been lost and instructed the bank to freeze the company accounts.
Funds allegedly siphoned off
Shaikh stated that Mishra fraudulently transferred ₹33 lakh from the company’s account to his personal savings account through RTGS using a cheque he had stolen from the office on November 8. Shaikh further alleged that Mishra illegally froze company funds amounting to ₹7 crore, thereby halting all business transactions.
Extortion and threats claimed
According to the FIR, Mishra continued to threaten the promoters and demanded ₹2 crore to unfreeze the account. Shaikh claimed that when they contacted Mishra on January 2, 2026, he again demanded the same amount and threatened that he would not allow the company account to be operational unless payment was made.
Alleged intimidation in Borivali
Shaikh further alleged that Mishra summoned them to Borivali, where some men accompanying him allegedly threatened to kill Shaikh and his family. Shaikh stated they narrowly escaped the situation.
Despite several attempts by Shaikh and other promoters to communicate with Mishra or meet his family, they received no cooperation. Instead, Mishra’s younger brother allegedly behaved rudely and denied access to their parents for mediation.
Legal notices ignored
The company issued three legal notices to Mishra through speed post dated December 4, December 20 and December 30, 2025, all of which were delivered but went unanswered.
Business losses cited
Shaikh stated that due to the illegal freezing of the company account and the fraudulent diversion of funds, Navhush Mercantile Pvt. Ltd. is unable to conduct business operations, resulting in daily financial losses, increasing port and detention charges, and damage to the company’s market reputation.
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FIR registered
Following the complaint and inquiry, Dongri Police have registered an FIR against Prabhakarnath Subhashchandra Mishra under relevant sections for cheating, criminal breach of trust, theft, criminal intimidation and extortion.
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