Pune: A 49-year-old businessman from Pune was allegedly cheated of ₹48.93 lakh after being promised a ₹50 crore loan at a low interest rate. When he demanded his money back, the accused allegedly threatened to kill him and dump his body in a lane in Hyderabad, an official said on Friday.
Narhe police have registered a case against three persons, Manohar Shivling Jindam of Ahmednagar, Ashok Kumar Lajishetti (52) of Telangana and Saujanya Bora (43) of Hyderabad, following a complaint by the businessman, who runs a security agency.
According to the police, the incident took place between April 14, 2024, and the filing of the complaint. The complainant was introduced to Jindam through a friend. Since Jindam had known him for around 12 to 14 years, the businessman trusted him.
Jindam allegedly told him that loans were available from Hyderabad at very low interest rates and assured him that he could arrange a ₹50 crore loan for his business. The complainant subsequently shared the required documents by email.
Initially, Jindam asked him to pay ₹15,000, which he did. On June 15, 2024, Jindam allegedly visited the complainant's office in Vadgaon and demanded ₹10 lakh towards the loan process.
Later, on February 24, 2025, Jindam took the complainant to Hyderabad, claiming that an agreement for the loan had to be prepared. He allegedly collected ₹2 lakh and introduced the complainant to Lajishetti and Bora. The two allegedly claimed that the loan would be arranged through an organisation called THALASSEMIA RAKSHITHA VOLUNTARY BLOOD CENTRE and that an agreement would have to be signed.
At the time of signing the agreement, the complainant was allegedly asked to transfer ₹5 lakh to a bank account. He was told that the accused would visit Pune for verification and that the loan amount would subsequently be released.
On March 29, 2025, five persons allegedly came to Pune for verification. The complainant was again asked to transfer ₹5 lakh and was also allegedly made to pay ₹10 lakh in cash. He further paid ₹43,580 towards their air tickets from Hyderabad to Pune.
According to the complaint, Jindam continued demanding money on various pretexts. The complainant allegedly paid around ₹25 lakh in cash and transferred ₹23.85 lakh online, taking the total amount paid to approximately ₹48.93 lakh.
However, the promised loan was never provided. When the complainant repeatedly contacted Jindam and Lajishetti, they allegedly gave various excuses and assured him that the loan would be sanctioned soon.
Fed up with the delays, the complainant reportedly travelled to Hyderabad along with Jindam and confronted Lajishetti and Bora, asking them either to arrange the loan or return his money.
The accused allegedly abused him and threatened to kill him. One of them reportedly told him, “Are you having too much fun? We will cut you up and throw you in some lane in Hyderabad.”
Fearing for his life, the complainant returned to Pune and later approached the police. Following an inquiry into his complaint, the Narhe police have now registered a case against the three accused.
