Trader cheated of Rs 65 lakh by city-based company

Tribune News Service

Ludhiana, October 15

A Mohali-based trader, who owns a cotton firm, was cheated of Rs 65 lakh by a Ludhiana-based cotton yarn manufacturing firm, owned by a couple.

An FIR in the case has been registered by the city police after eight months. Additional DCP (Special Branch) conducted a probe in the matter following which an FIR was registered. The accused have been identified as Vishal, his wife Ritu, both residents of BRS Nagar.

Piyush Tripathi, who owns firms Sidhi Enterprises, SS Traders and RJ Enterprises in Punjab and other states, said he had been supplying cotton and cotton waste to the firm of the accused, which deals in manufacturing yarn. In the span of five years he had supplied stock worth Rs 65 lakh to the accused.

Instead of paying the amount, the accused had been threatening to indict Tripathi in a fake case. They had also submitted a complaint in this regards, but the victim had come out clean in a police probe.

Tripathi also alleged that the accused had been claiming his clout in the Police Department and had threatened him to stay away from the case.

In another case the police booked industrialist Arun Jain, owner of S Cosmo Enterprises of Mumbai, for duping a city-based trader of Rs 30 lakh. Complainant Arvinder Singh of the industrial area said he had supplied goods worth Rs 84 lakh to the firm and in lieu a cheque for Rs 30 lakh was issued by the accused, which got bounced.