Thane Police Book Agro Firm CEO, 3 Partners Over Rs 40 Lakh Fraud

Thane Police have registered a criminal case against the Chief Executive Officer and three partners of a Satara-based agribusiness firm for allegedly cheating fast-moving consumer goods company Pitambari Products of Rs 40 lakh.

The police action was initiated following a formal complaint lodged by Pitambari Products regarding a commercial transaction between the two entities.

According to the complaint, Pitambari Products had entered into a business agreement with the Satara-based firm to procure jaggery powder at a comparatively lower price.

Following allegations of financial deception amounting to Rs 40 lakh arising from the deal, Thane Police booked the agribusiness firm's CEO along with three partners in connection with the alleged fraud.