A 23-year-old man from Maharashtra's Thane city was allegedly cheated of more than Rs 12 lakh by two men on the pretext of getting him a loan for his trucking business, police said on Monday, according to the PTI.

The victim had reached out to the police and based on a complaint lodged by him, the Thane police registered an offence under sections 420 (cheating), 406 (criminal breach of trust) and other relevant provisions of the Indian Penal Code and no arrest has been made as yet, an official said, reported the PTI.