Mumbai: Man Booked for Defrauding Businessman of ₹2.44 Crore by Posing as Company Owner
A businessman in Mumbai has filed a complaint against Pushpendra Manmal Angara for defrauding him of ₹2.44 crore by falsely claiming ownership of his company and diverting funds through fake entities.
FraudBusinessmanMumbaiPoliceInvestigationReal Estate PuneNov 06, 2025
According to the complaint filed by Ritesh Ramlal Angara (46), a businessman residing near Nanu Bhai Desai Road, the accused, Pushpendra Manmal Angara, residing at Narayan Building, Dubhash Lane, misrepresented himself as the owner of Ritesh’s firm — Kartik Ferromet Pvt. Ltd., located at Chandawadi, Nanu Bhai Desai Road.
V. P. Road Police said the accused approached various companies under the pretext of selling metal on behalf of Kartik Ferromet and induced them to deposit payments into the company’s legitimate bank account. Later, he allegedly persuaded the complainant to transfer a total of ₹2,44,33,436 into several bogus company accounts that he himself had created, under the guise of purchasing metal stock.
Investigations revealed that Pushpendra withdrew the amount from these fake accounts for personal gain, thereby cheating the complainant. An FIR has been registered at VP Road Police Station under relevant sections of the Bharatiya Nyaya Sanhita for cheating and criminal breach of trust. The police are investigating further to trace the diverted funds.
This incident highlights the growing concern of fraud and the importance of due diligence in business transactions. Business owners and companies should be vigilant and verify the credentials of individuals and entities they engage with to avoid falling victim to such scams. The police are urging anyone with information related to this case to come forward and assist in the investigation.
Frequently Asked Questions
Who is the accused in this fraud case?
The accused is Pushpendra Manmal Angara, who is accused of defrauding a businessman of ₹2.44 crore by falsely claiming ownership of his company and diverting funds through fake entities.
How did the accused defraud the businessman?
The accused approached various companies under the pretext of selling metal on behalf of the businessman's firm and induced them to deposit payments into the company’s legitimate bank account. He then persuaded the businessman to transfer the funds into several bogus company accounts that he had created.
What actions have the police taken?
An FIR has been registered at VP Road Police Station under relevant sections of the Bharatiya Nyaya Sanhita for cheating and criminal breach of trust. The police are investigating further to trace the diverted funds.
What advice is given to business owners to avoid such fraud?
Business owners and companies should be vigilant and verify the credentials of individuals and entities they engage with to avoid falling victim to such scams.
Where can I get more information on property deals in Mumbai?
For exclusive and budget-friendly property deals in Mumbai and surrounding regions, you can visit https://budgetproperties.in/
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