Nagpur: A 49-year-old businessman has alleged that he was cheated of ₹70 lakh after being induced to invest in a green shade-net manufacturing company on the promise of being made a partner. MIDC Police have registered a case against three people for alleged cheating, breach of trust and criminal intimidation.
The complainant has been identified as Ashutosh Narayan Paliwal, 49, a resident of Wardhaman Nagar, who runs his own company. The accused have been identified as Deepak Bhagwandas Ahuja, a resident of Lakadganj; Tilak Bhagwandas Ahuja, a resident of Bhandevadi-Wathoda; and Manoj Dadduval Chug, a resident of the Wardhaman Nagar-Pardi area.
According to the complaint, Paliwal and Manoj Chug were friends. Chug allegedly operated Shri Ganesh Agrotech, a company located at Lihigaon-Kapsi, which manufactured green shade nets. Deepak and Tilak Ahuja were allegedly partners in the company and were Chug’s nephews.
The three accused had reportedly obtained a loan from the Bank of India, Civil Lines branch for the company. As the loan was allegedly not repaid, the bank sealed the company premises and closed its account.
The complainant alleged that the accused subsequently approached him and told him that the company had outstanding loans. They allegedly persuaded him to join the business as a partner and invest money to purchase material and operate the company.
Trusting their assurances, Paliwal allegedly invested ₹70 lakh in the company. He claimed that the accused had promised to make him a partner but failed to do so. The incident occurred between September 202 and March 2023.
The complainant further alleged that Deepak Ahuja, Tilak Ahuja and Manoj Chug subsequently sold the company to Gulshan Rahiya without informing him, despite his investment in the business.
When Paliwal allegedly demanded the return of his ₹70 lakh, the accused allegedly threatened to kill him, according to the complaint.
Based on the complaint, the MIDC Police registered a case under Sections 406, 420, 506(2) and 34 of the Indian Penal Code (IPC).
Police are investigating the alleged financial transactions, the company’s ownership and sale records, and the circumstances surrounding the complainant’s investment.
