Navi Mumbai: Businessman Defrauded of Rs 55.29 Lakh in Alleged Ash Trading Scam

A case of fraud amounting to Rs55.29 lakh has come to light at Panvel City Police Station, where a complaint has been filed against Fazal Rehman Gulab Nabi Ansari, a resident of Balapur, Akola, and an engineer associated with the Maharashtra State Power Generation Company (Mahagenco).

According to the police report, Fazal Ansari allegedly lured businessman Tukaram Dudhe into investing in his firm, Messrs Sai Ash Point Transporting Company, claiming the company had secured a tender with Mahagenco’s Paras Thermal Power Plant. Ansari presented receipts suggesting that his company had deposited Rs 1.85 crore in connection with the tender. Trusting these documents, Dudhe was persuaded to invest Rs 55.29 lakh as a 30% partner in the firm.

Between December 2023 and January 2024, the accused reportedly purchased ash from Mahagenco at Rs 419 per unit and resold it at Rs 540 per unit, selling 9,246 metric tons. Despite generating a good profits, the accused, allegedly in collaboration with a Mahagenco engineer, falsified documents and receipts to mislead Dudhe.

The fraudulent activities left Dudhe without any returns on his investment, leading him to approach the police. The Panvel City Police have registered a case and launched an investigation into the matter.

The police are examining the role of the Mahagenco engineer in aiding the accused with forged documents. Meanwhile, the complainant, Dudhe, has demanded strict action against those responsible for the scam.