Ex-official of Ludhiana cycle firm booked for misappropriation

The Sahnewal police have registered a case after inquiry against a former digital marketing head of a Ludhiana-based cycle manufacturing firm for allegedly selling its cycles online and failing to return over Rs 2 lakh taken as loan from the company.

Dr Deepak Jain, a resident of Pavitar Nagar, Haibowal Kalan, had alleged that Rajan Pandey (42), who was employed as a digital marketing head at Avon Cycles Limited, not only sold cycles online without informing the persons concerned but also refused to return Rs 2 lakh taken by him as loan from the company. Pandey is a resident of Nirankari Mohalla, Ludhiana, and he is at present staying in Giaspura.

The suspect sold cycles online on Amazon, JioMart and Flipkart while working as the digital marketing head. Later, a total of 632 cycles were found missing as per the stock statement. It was found that the suspect sold the cycles online but did not deposit sales amount with the company.

It was further alleged that Pandey took a loan of Rs 5 lakh from the company but could not return the entire amount, with Rs 2 lakhs still pending. Meanwhile, he also stopped reporting to work.

Investigating official Karanjit Singh said the suspect still evades the police net but will soon be in custody. The probe was underway.