Published On : Fri, Oct 27th, 2017

Sugar trader duped of Rs 1 crore in dubious deal

Fraud
Nagpur: In a major fraud, a sugar trader of city was duped to the tune of Rs 1 crore by Solapur-based Bhima Coop Sugar Factory, its Managing Director and a private firm of Kolhapur in a dubious deal.

According to the complainant sugar trader, Rameshkumar Girdharilal Jaijani (67), resident of Naman Apartment, KDK College Road, Nandanvan, the accused Bhima Cooperative Sugar Factory, Solapur Rural, its former Managing Director E G Sadanand, owner of Pashvanath Enterprises Vinay Sanke, resident of Shahu Wadi, Kolhapur, negotiated a deal with him for supply of 10,000 quintal sugar at the rate of Rs 2450 per quintal between November 20, 2015 and October 26, 2017. Accordingly, the accused told Rameshkumar Jaijani to deposit Rs 2.45 crore in the bank account of Bhima Cooperative Sugar Factory. However, instead of delivering the agreed quantity of sugar, the accused forced Rameshkumar to purchase the sugar at much higher rate. When Rameshkumar raised objection to the dubious deal, the accused returned him Rs 1.45 crore out of the Rs 2.45 crore but pocketed the remaining Rs 1 crore without delivery of the sugar. Thus the accused defrauded Rameshkumar to the tune of Rs 1 crore in the dubious sugar deal.

Nandanvan API S Sonavane, acting on the complaint of Rameshkumar Jaijani, booked the accused Bhima Cooperative Sugar Factory, Solapur Rural, its former Managing Director E G Sadanand, owner of Pashvanath Enterprises Vinay Sanke under Sections 406, 420, 34 of the IPC. Further probe is on.