Mumbai: A senior manager of Tata International Limited has filed a complaint alleging a fraud of ₹14.85 crore by a Pune-based trading firm and its director allegedly in connection with an edible oil import deal. An FIR has been registered at Wadala TT Police Station and is being probed by the Economic Offences Wing (EOW).
According to the complaint filed by Amit Prakash Thakkar (43), a resident of Ghatkopar and an authorised representative of Tata International Ltd, the company had been financing business transactions of M/s Atos Agro Merchant Pvt Ltd, Pune, since 2022. The firm, along with its director Santosh Kumar Vasudev Murthy Gowda, is accused of cheating and criminal breach of trust.
As per FIR, between 2022 and 2024, Tata International and Atos Agro Merchant conducted transactions worth nearly ₹350 crore in the edible oil trade. As per the arrangement, Tata International would finance up to 90% of the invoice value against documents such as invoices, High Seas Sale Agreements, Bills of Entry, and customs papers, while retaining 10% as security.
In June 2023, the accused firm entered into a High Seas Sale Agreement and Purchase Agreement with Tata International for the supply of 2,000 metric tonnes of “Crude Degummed Soyabean Oil (Edible Grade)” valued at ₹16.5 crore. Based on the agreement, Tata International transferred ₹14.85 crore 90% of the total value through RTGS to the accused company’s bank account.
However, the complainant alleged that despite receiving the funds, the accused failed to deliver the consignment. Investigations revealed that although the oil was purportedly sourced from Viterra B.V., the payment was not made to the supplier, resulting in the cargo not being discharged in Tata International’s name at the port.
Instead, the accused allegedly persuaded the complainant company to issue a No Objection Certificate (NOC) to allow the consignment to be cleared in the name of Viterra India Pvt Ltd, assuring that the dues would be settled later. The complainant claimed that neither the goods were delivered nor the funds returned.
Police further stated that the accused had allegedly concealed their company’s poor financial condition while entering into the agreements and diverted the funds for other purposes instead of procuring the goods. Based on the complaint, a case of cheating and criminal breach of trust has been registered against M/s Atos Agro Merchant Pvt Ltd and its director Santosh Kumar Gowda. Further investigation is underway by the EOW to trace the funds and establish the extent of the fraud.
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