Mumbai Crime: Vice-president of Pharma company duped of Rs 1.1 crore

Updated: 24 September, 2020 07:22 IST | Anurag Kamble | Mumbai

But, the executives of Paras Finance Loan Company started demanding money from the victim on the pretext of processing fee

This image has been used for representational purposes only
This image has been used for representational purposes only

A 51-year-old man, who needed a loan of Rs 2 crore to set up his own pharma company, ended up losing Rs 1.1 crore to two fraud finance companies. The victim is a Vice-President of a pharma company located at Wagle Estate in Thane. An FIR has been registered with Chitalsar police station against unknown people.

In July 2019, the victim found a finance company's advertisement in a newspaper. "The company was named Paras Finance Loan Company. I reached out and they demanded my documents, bank statement and said that I am eligible for Rs 2 crore loan. I agreed as I found the interest rate and instalments easy," the victim has said in his statement to the police.

But, the executives of Paras Finance Loan Company started demanding money from the victim on the pretext of processing fee.

"I paid Rs 14,13,047 as processing fees from July 2019 to October 2019. Suddenly they stopped communicating, following which is when I grew suspicious," he said.

After losing more than Rs 14 lakh, he came across a commercial of a finance group named after famous cement and metal production group in India. "When I contacted them, their two executives – Ajay Kumar and Manish Kumar first demanded Rs 5,500 as registration fees. Then they demanded Rs 1.2 lakh, then Rs 1.05 lakh, followed by Rs 54,500," mentioned the victim.

"Later, under the pretext of formalities, they took Rs 12 lakh, Rs 8 lakh, Rs 6 lakh, R14 lakh from me," he added.

"When I questioned them, they asked for Rs 17 lakh. But I got suspicious. However, they convinced me and demanded more Rs 20 lakh as final settlement. But then again they took Rs 7.50 lakh from me," added victim. This way the victim ended up Rs 87,51,100 to the second company. However, after losing a total of Rs 1,01,64,147 to both, he wrote an application to register offence in Chitalsar police station.

"After receiving the application, we verified all the claims and have registered an FIR against unknown people. The links of these fraud companies are attached to Delhi and Himachal Pradesh. Soon our team will leave for investigation," Inspector Priyatama Muthe from Chitalsar Police station said.

"If anyone has encountered such fraudsters, they should come forward and register a complaint," she added.

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First Published: 24 September, 2020 07:06 IST

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