Man booked for duping business partners of Rs 76,53L

Aurangabad, July 28:

A man duped his two business partners and transferred shares of the company in his, his wife, and his mother’s names in Waluj industrial area. Waluj police have booked accused Surendra Rajput, his wife Renu and mother Bhikabai.

Police said Vinay Navinchand Jain, Sagar Rajput and Surendra Rajput started a company named Saffire Plastochem Pvt Ltd in Waluj Industrial area. Vinay and Surendra had 40 per cent each shares while Sagar had 20 per cent shares. This company purchases plastic chips from Reliance Company and supplies them to other companies as per orders. Vinay and Sagar had given the rights of administration and accounts of the company to Surendra.

During the period, 2015 and 2017, Surendra had shown the accounts of the company to his partners but later neglect to show the accounts to the partners stating various reasons. As Surendra was not showing the transactions of the company, both the partners served a legal notice to Surendra.

On June 18, Vinay and his friend Prafulla Rathi went to the godown of the company in Pandharpur area and found that 10 tons of material were missing. They found that the material was kept in Surendra’s Hira Polyprint Company.

As Vinay and Sagar frequently pursued Surendra for the company account, he transferred 100 shares registered in his name to his wife Renu and mother Bhikabai and made them directors of the company. He then increased shares worth Rs 2 lakh in his name.

The partners in the complaint mentioned that Surendra during the period 2018 and 2021, out of the total asset of the company of Rs 2.16 crores, embezzled Rs 76.56 lakh.