Mumbai Police EOW To File 4,000-Page Chargesheet In ₹21-Crore Fraud Case

Mumbai: The Economic Offences Wing (EOW) of the Mumbai Police is set to file a 4,000-page chargesheet in the Rs 21-crore fraud case involving seven accused associated with Smartpaddle Technology Pvt. Ltd.

About The Case

The Seven accused have been identified as Nainish Shah, Shrenik Saboo, Tarun Soni, Rajendra Singh, Rohit Garg, and the company’s cofounders Sachin Agarwal and Aniket Deb. The case has been registered at Sakinaka Police Station under Sections 420 (cheating), 408 (criminal breach of trust by clerk or servant), 465 (forgery), 467 (forgery of valuable security), 468 (forgery for the purpose of cheating), 471 (using forged documents as genuine), and 120-B (criminal conspiracy) of the IPC.

The alleged offences, which took place between Nove mb - er 2022 and November 2023, are currently being investigated by the EOW, Banking-II Unit. The complaint was filed by Eshwar Pandurang Vajratkar, Finance Controller of Smartpaddle Technology Pvt. Ltd., Mumbai. According to the FIR, the accused, in criminal conspiracy with each other, misused their official positions and created fake invoices and service vendor agreements without the company’s authorisation.

These forged documents were used to siphon off company funds by transferring approximately Rs 21 crore into 132 vendor bank accounts for services that were never rendered. The probe revealed that the accused diverted the company’s funds for personal gain, causing financial losses to the company and its investors.