Thane: A businessman from Maharashtra ‘s Thane city was allegedly cheated of Rs 1.27 crore by a trader in a deal to supply gravel, police said on Friday.
The Vartak Nagar police on Wednesday registered a first information report (FIR) against a businessman based in Vishakapattam in Andhra Pradesh, under sections 406 (criminal breach of trust), 420 (cheating) and other relevant provisions of the Indian Penal Code (IPC), an official said.
The complainant has alleged that the accused, Ajay Kumar Mangi, allegedly lured him into a deal to supply gravel to Bangladesh , promising returns in US dollars, he said.
The complainant supplied gravel worth Rs 1.27 crore between September 2021 and November 2023, he said.
However, instead of fulfilling the contract, Mangi allegedly sold the material to another party and did not pay the complainant, the official said.
He said the matter is under investigation, and no arrest has been made.
