Thane: A 60-year-old powerloom proprietor from Thane district in Maharashtra has accused three individuals of defrauding him of Rs 1.5 crore by pretending to supply new equipment for his business, an official reported on Friday.
In his report to the Shanti Nagar police station in Bhiwandi, the man stated that he provided the money to the three individuals in January 2024 to acquire equipment for his textile business.
Yet, in spite of multiple follow-ups, the accused individuals failed to provide the machinery or refund the Rs 1.5 crore to the complainant, the official stated, referencing the FIR filed on Wednesday. The entrepreneur has likewise claimed that the three threatened him.
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The accused have been charged with cheating, criminal intimidation, and other offenses under the Bharatiya Nyaya Sanhita, the official stated, noting that an investigation is currently ongoing.
In another case, a Mahim businessman, Avinash Amritraj Mehta, reported a ₹14.73 crore share trading fraud, leading the Cyber Police Station (Central Region) to file a case under various sections of the Bharatiya Nyaya Sanhita, 2023, and the Information Technology Act, 2000.
Mehta claims he was deceived by individuals posing as share market intermediaries between October 2024 and July 7, 2025. Introduced by his advisor, Prasad Sanket, the accused, Rohan Menon and Manikandan, offered a fake investment opportunity in listed companies.
They used forged emails from respected entities like Zerodha Booking Ltd and SEBI to persuade him into transferring money for shares that were never credited to his account. Instead, the funds were allegedly redirected to personal accounts. The complainant recognized the scam only after the share transfers failed and subsequently sought legal action, resulting in the police registering a case against the suspects.
