Mumbai Police have arrested three people in connection with a Rs24 crore cheating case involving a businessman from the central Asian nation of Kyrgyzstan who wanted to import sugar from India.
According to the police, the complainant is Delhi resident Aamir Mukhtar Ali, 37, who has an import-export business and is the secretary of the Association of International Businessmen. In his complaint, Ali said that his friend, Skender Ullo, a citizen of Kyrgyzstan, came to Delhi and told him that one of his countrymen, Jhumanjhrao Kochkorbek, owner of the company KG Invest, wanted to import 12,000 metric tonnes of sugar from India.
The chain of events
Ali contacted one of his friends, a resident of Gurgaon named Rohit Sharma, who in turn introduced Ali to Mumbai-based businessman Kashinath Jadhav, owner of Royal Agro Mart Pvt Ltd.
Ali and Ullo told Kochkorbek about Jadhav's company. The Kyrgyz businessman then nominated Ali and Ullo as his representatives.
Sharma gave Ali the number of Jadhav's son, Partha, and asked him to get in touch with him. When Ali and Ullo reached Mumbai to discuss the sugar procurement, Partha came to pick them up at the airport and took them to his office.
When Ali and Ullo reached Jadhav’s office, they met a woman named Madhuri Morye, Kashinath Jadhav and Vikas Gaikwad. Kashinath said Morye and Partha were directors of the company.
Following due diligence, the two parties came to an agreement. Kashinath told Ali and Ullo that they would have to pay 50% of the money in advance, and the rest after delivery. They then made a sale-purchase agreement.
$3 million deposited
After doing all the paperwork, KG Invest deposited $3 million (Rs 24 crores) by TT in the bank account of Royal Agro Mart. The very next day, Kashinath told Ali that 50 containers had been booked to send the sugar.
However, the sugar never reached Kyrgyzstan and Kashinath later returned Rs7 crore.
Following a long delay, Ali realised that Kashinath was cheating him and filed a complaint with the Additional Director of Foreign Trade, Mumbai.
The the Additional Director of Foreign Trade said that Royal Agro Mart was defaming the country and asked the company to return the money of the complainant.
However, Royal Agro Mart did not do so and the complainant approached the Mumbai Police’s Economic Offences Wing, which filed a case at NM Joshi Marg Police Station.
The EOW has arrested accused Kashinath Jadhav, 63, Partha Jadhav, 26, and Vikas Gaikwad, 53. An official said that Kashinath already has four cases of cheating against him.
