A businessman from Maharashtra's Thane district was duped out of Rs 50 lakh allegedly by two persons who promised to supply cooking oil of a popular brand at reduced rates, an official said on Friday, reported news agency PTI.

The alleged fraud took place between August 2020 and May 2021, said the complainant, a resident of the Ambernath area. The accused persons have been identified as Pune residents Mukesh Pandey and Pallavi Raut, reported PTI.