Mumbai News: Bihar Businessman Among 3 Booked In ₹77 Lakh Cheating Case

Mumbai News: Bihar Businessman Among 3 Booked In ₹77 Lakh Cheating Case

Accused sold a JCB to the complainant without settling vehicle loan

Rahul MUpdated: Monday, December 25, 2023, 08:36 PM IST
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Mumbai: Three people, including a businessman from Bihar, have been booked for allegedly cheating a man, who deals in JCBs, of ₹77 lakh on the pretext of selling the construction vehicle. In his police complaint, Angandsingh Shetty, 27, from Santacruz said that his firm, Alliance Venture, buys and sells JCBs.

As per the case, the complainant came into contact with the main accused, Pankaj Singh, in July. An acquaintance of Shetty informed him that Singh runs Ranisal Metals Pvt Ltd in Patna and intended to sell his JCB. The deal was struck and the aggrieved bought the heavy-duty vehicle ₹89.7 lakh. Shetty said that they transacted for a second time without any hassles.

In September, Singh offered another JCB to the complainant and the purchase was finalised at ₹77 lakh. Accordingly, Shetty transferred the money to Singh's firm. The latter issued an invoice stating that there were no outstanding debts against the JCB. However, the recovery team from Kotak Mahindra Bank seized the vehicle at the Khalapur toll plaza while it was being transported to Shetty's godown in Raigad. When confronted, Singh promised to settle the bank loan, but didn't keep his word, said Shetty in his complaint.

On December 23, a case was lodged against Singh, Sabeer Kumar Sahu and an unidentified individual under the Indian Penal Code sections 34 (common intention), 120 (B) (criminal conspiracy), 406 (breach of trust) and 420 (cheating and dishonesty) at the Vakola police station.

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