Daijiworld Media Network - Mumbai

Mumbai, Dec 23: Mumbai Police have registered a case against two senior employees of a private company for allegedly cheating their employer of Rs 4.86 crore by forging official documents and abusing their positions of trust.

Marine Drive Police have booked Deepak Rajesh Shah (49) and Deepak Prakash Naik (51) on charges of criminal breach of trust, forgery and cheating, following a complaint filed by Triveni Mudrai Project Limited.

According to investigators, the accused allegedly conspired in 2024 to create a fake board resolution and other forged company documents. These documents were then presented to a bank as genuine, without any authorisation from the company, to secure loans totalling Rs 2 crore. Of this amount, Rs 1.20 crore and Rs 80 lakh were disbursed separately.

Police said the loan funds were allegedly used to purchase two luxury Audi Q7 vehicles for the personal use of the accused. In addition, Rs 14.11 lakh was allegedly transferred from the company’s bank account at the Cuffe Parade branch to another account and misappropriated.

The investigation has further revealed that two more vehicles had been purchased earlier with the company’s consent, involving loan amounts of Rs 1.44 crore and Rs 1.42 crore, taking the total exposure related to vehicle loans to ?2.86 crore. However, police said that even after resigning as a director and severing formal ties with the firm, Deepak Naik allegedly retained possession of all four vehicles without authorisation.

Despite receiving a legal notice from the company, the vehicles were not returned, the complaint alleged. The company has stated that the actions of the two accused resulted in a cumulative financial loss of Rs 4.86 crore.

Police have confirmed that a formal case has been registered and further investigation into the financial transactions and forged documents is ongoing.