Mumbai: Sion Businesswoman Duped of Rs 48.5 Lakh by Kandivli Couple
A 55-year-old businesswoman from Sion has lodged a complaint against a Kandivli-based couple who duped her of Rs 48.5 lakh by promising a multi-crore bank loan, discounted property, and school admissions.
MumbaiKandivliBusinesswomanFraudPoliceReal Estate MumbaiOct 03, 2025
The complainant, who runs a tours and travels company from her residence, told the police in her complaint that the accused, Grishma Jagdish Rawal, and her husband, Rajesh Velan, residents of Kandivli West, took advantage of her financial distress between September 2023 and January 2024.
The victim first came into contact with Rawal through an acquaintance during a business setback. Rawal allegedly assured her that she could help arrange a loan of up to Rs 2 crore but demanded large sums of cash as processing fees. Over the next few months, the victim gave money to Rawal in multiple instalments by meeting her at different places, including her residence and other locations, such as Pritam Dhaba in Dadar, Shivaji Park, Square Mall, Union Bank in Mahalaxmi, and Sion station.
The accused allegedly collected money under various pretexts, such as loan documentation, IT return preparation, and stamp duty for commercial plots near Borivli Metro. The accused also collected “admission fees” with a promise of getting her children into several prominent elite schools. However, despite repeated assurances, no loan was sanctioned, no property was allotted, and no school admission was arranged. By January 2024, the victim realised that she had been cheated of Rs 48.5 lakh in cash.
The victim told the police that even after more than a year, she was hoping to get the money back, as the accused couple made her promises and even sent her cheques, which bounced. Sion police said that based on the complaint, they have registered an FIR under sections of the Indian Penal Code (IPC) relating to cheating, criminal breach of trust, and criminal intimidation. Sections of IPC were applicable as the incident occurred between 2023 and 2024 (before the Bharatiya Nyaya Sanhita [BNS] came into effect).
Frequently Asked Questions
What did the Kandivli couple promise the businesswoman?
The Kandivli couple promised the businesswoman a multi-crore bank loan, discounted commercial property, and school admissions for her children.
How much money was the businesswoman defrauded of?
The businesswoman was defrauded of Rs 48.5 lakh.
How did the businesswoman come into contact with the accused?
The businesswoman came into contact with the accused through an acquaintance during a business setback.
Where did the transactions take place?
The transactions took place at various locations, including the businesswoman's residence, Pritam Dhaba in Dadar, Shivaji Park, Square Mall, Union Bank in Mahalaxmi, and Sion station.
What action did the police take after the complaint?
The Sion police registered an FIR under sections of the Indian Penal Code (IPC) relating to cheating, criminal breach of trust, and criminal intimidation.
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