Two top executives of a company have been arrested for allegedly defrauding another firm of Rs 4 crore, police said on Wednesday. According to the complainant company the IFCI Factors Ltd, the Evinix Industries sought a bill discounting facility from them at a pre-payment of Rs 4 crore.

The company, however, reportedly submitted forged purchase orders, invoices, lorry receipts and consignment notes for obtaining the bill discounting amount, police said. During the course of investigation, transport bills submitted by the accused for obtaining factoring facility were found forged.