NAVI MUMBAI COPS INITIATE PROBE IN CAR RENTAL SCAM

The accused persons have allegedly duped several investors to the tune of Rs 81 lakh

The Navi Mumbai Police has registered a case against eight persons for allegedly running a car rental scam. The accused persons would induce people to invest in their scheme, wherein they would utilise the investors’ money in buying cars and supplying them to private companies. The accused persons have allegedly duped several investors to the tune of Rs 81 lakh and the police suspect that more people could have been duped in this racket. According to the Khandeshwar Police, the complainant in the case is SB Khedkar, 32, a resident of Ulhasnagar in Thane. In November 2019, the victim had come across a company known as SW Multi Services Limited. The victim then visited the company's office in Panvel. The company officials informed the victim that their company helps investors get car loans from banks. Once the car is procured, the said cars, which are owned by the investors are supplied to different companies on a rental basis.

"The victim was then asked to make a down payment of Rs 2.72 lakh and was promised Rs 93,200 returns per month by the company officials. The victim paid money to the company in March 2020, but operations of the said company got shut due to the lockdown. In October 2020, the company completely closed their operations, af ter which the victim found out that several investors of the said company had totally lost Rs 81.56 lakh. The investors then approached the police and got a complaint lodged," said a police officer.

He added, a case was registered on Monday in the matter under sections 120 (concealing design to commit offence punishable with imprisonment), 409 (criminal breach of trust by public servant, or by banker, merchant or agent) and 420 (cheating and dishonestly inducing deliver y of property) of the Indian Penal Code.