According to the police, the alleged fraud exceeds Rs 4.31 crore. The company and its directors reportedly deceived investors through multiple financial schemes. The suspected scam is believed to have taken place over several years

The accused have been identified as Sagar Subodh Karivadekar, a resident of Sindhudurg, and Sachin Balkrishna Rane from Thane; the case was registered based on a complaint filed by a woman from Bhandup in neighbouring Mumbai