Cotton merchant duped for Rs 48 lakh by UP businessman

Chhatrapati Sambhajinagar: A businessman from the city, has filed a complaint at MIDC Cidco police station alleging a Rs 48 lakh fraud by a businessman from Kanpur, Uttar Pradesh.

According to police, Shyam Trilokchand Agrawal, director of Riddhisiddhi Cotex Company in Chikalthana and partner in two other cotton businesses, stated that the owner of the Kanpur-based Surana and Sons, Pravinkumar Surana placed an order worth Rs 30 lakh for cotton yarn in December 2022. The agreement included a 2 percent discount for immediate payment and 18 percent interest on delays.

Agrawal alleges he delivered the goods but received only Rs 17.69 lakh via an ICICI bank cheque from Erode, Tamil Nadu. Despite repeated follow-up, Surana refused to pay the remaining balance. Hence Agrawal registered a case in the Cidco police station. PSI Atmaram Ghuge is further investigating the case.