Mumbai News: 2 Firm Heads Booked For ₹6.6 Crore Fraud

Mumbai News: 2 Firm Heads Booked For ₹6.6 Crore Fraud

Notices under Code of Criminal Procedure section 41(a)(1) have been issued to Gupta and Agarwal, asking them to appear for inquiry.

FPJ News ServiceUpdated: Monday, June 24, 2024, 12:03 AM IST
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Mumbai News: 2 Firm Heads Booked For ₹6.6 Crore Fraud |

Two directors of a company involved in buying and selling fabric have been booked for allegedly duping an Andheri-based firm of Rs6.6 crore. The duo accused – Sandeep Gupta and Anurag Agarwal – run Shyam Indofab Pvt Ltd located in Nandgaon Peth, MIDC area of Nagpur.

According to the police, the complaint was filed by Justin Mathew, a senior officer at Groyo Pvt Ltd, which has its office at Bonanza Plaza, Andheri. The employee said that between July 2022 and June 20, 2024, the duo procured fabric garments worth Rs16 crore from his firm. While they paid Rs10.35 crore, they defaulted on paying the balance amount.

Despite sending several emails and repeated attempts to contact Shyam Indofab, Gupta and Agarwal remained unresponsive. They attempted to mislead Groyo Pvt Ltd by giving various excuses, while deferring the payment, said Mathew.

Based on his complaint, a case was registered on Saturday against the duo under sections 406 (criminal breach of trust), 420 (cheating and dishonesty), and 34 (acts done by several persons in furtherance of common intention) of the Indian Penal Code. Notices under Code of Criminal Procedure section 41(a)(1) have been issued to Gupta and Agarwal, asking them to appear for inquiry. Their statements will be recorded soon, said the police.

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