Firm alleges ₹74 lakh fraud after iron supply deal fails in Ahmedabad

The Ranip police have registered a case of cheating and criminal breach of trust after a Gandhinagar-based infrastructure company alleged that it was defrauded of more than ₹74 lakh by a supplier who promised to deliver iron construction materials but failed to supply the goods.

According to the complaint filed on March 6 by Kishan Jawansinh Thakor (42), a resident of Sargasan in Gandhinagar and manager in the purchasing department of MKC Infrastructure Limited, the accused allegedly lured the company into placing a large order for iron rods through an online business inquiry.

Police said the incident dates back to November 13, when Rahulbhai Thakor, an employee of the company, had made an online inquiry for iron rods through a business platform. Soon after, he received a phone call from a person identifying himself as Bhaskarbhai Joshi, who claimed to represent Riddhi Industries, a firm purportedly based in Ahmedabad.

During the conversation, the accused allegedly stated that his company supplied iron rods, M.S. plates, M.S. angles and other construction materials at competitive prices. He subsequently shared documents including a visiting card, GST certificate, PAN card and a cancelled cheque through WhatsApp to establish the firm’s credibility.

After comparing quotations from several vendors, officials of MKC Infrastructure Limited found that the quotation provided by Riddhi Industries was significantly lower than others. Based on this, the company decided to place purchase orders for 80 tonnes and 240 tonnes of iron rods for its railway line project between Taranga, Ambaji and Abu Road.

According to the complaint, the accused demanded an advance payment of ₹25 lakh as per the purchase order terms. On November 17, the company transferred the amount through RTGS from its State Bank of India account to a Kotak Bank account allegedly belonging to Riddhi Industries.

The accused later informed the complainant that the iron rods had been loaded onto vehicles and sent invoice bills via email, assuring that the material would reach the project site within two to four days.

However, the consignment did not arrive even after several days. On November 23, the accused allegedly sent four additional invoices and insisted that the remaining payment be cleared, claiming the vehicles would reach the site the following morning.

Believing the assurance, the company transferred an additional ₹64.07 lakh through RTGS to the same bank account on December 2.

Despite receiving the payments, the accused allegedly failed to deliver any iron rods. When repeatedly contacted, he initially promised to return the money but did not refund the full amount. Company representatives later visited the address of Riddhi Industries in Purushottam Nagar, Ranip, but found the shop closed.

Police said the accused returned ₹14.50 lakh in instalments between December 23 and January 5. However, the remaining ₹74.04 lakh has not been returned to the company.

Thakor alleged in his complaint that the accused cheated the firm by falsely claiming to supply iron materials and by misusing forged or misleading documents to gain trust and secure payments.

Based on the complaint, the Ranip Police Station has registered a case under relevant sections pertaining to cheating and criminal breach of trust. Officials said the investigation has been initiated and efforts are underway to trace the accused and verify the financial transactions involved in the alleged fraud.