Pune, October 2025 — A large-scale financial fraud has shaken Pune’s IT hub after hundreds of investors were reportedly duped of crores of rupees through a fake investment scheme run under the TW Day Group of Companies. The Warje-Malwadi Police have booked Sameer and Neha Narvekar, along with 21 others, for orchestrating what investigators are calling one of the city’s biggest white-collar scams in recent years.
Learning Program Turned Into Investment Trap
The racket began innocently through a Learning Solutions programme that offered training in share trading. Once participants gained confidence in the company’s professionalism, they were introduced to a cluster of entities under the TW Day brand — including TW Day Events, TW Day IT Solutions, TW Day Infrastructure, and others.
According to the complaint filed by Prarthana Prathamesh Mashilkar (28), investors were promised monthly returns between 3% and 5% based on the investment amount:
- Up to ₹10 lakh – 3% returns
- ₹10–25 lakh – 4% returns
- Over ₹25 lakh – 5% returns
Initially, payouts were made on time, convincing many investors to increase their stakes — in some cases, by taking bank loans.
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Victims Left Stranded as Payments Stopped
Mashilkar, who personally invested ₹32 lakh, received her returns until March 2025, after which the company stopped payments, citing “income tax scrutiny” and “foreign investment delays.” Soon after, communication with the company ceased entirely.
Investigators found that the Narvekar couple floated over ten firms in diverse sectors — including insurance, media, logistics, hospitality, and social reform — using them as fronts to attract fresh investments. Some individuals reportedly invested as much as ₹50 lakh, while one victim alone lost ₹2.83 crore.
As repayment pressure and bank notices mounted, victims began approaching the police, leading to the registration of a formal complaint.
Police Crackdown and Legal Action
Following preliminary verification, the Warje-Malwadi Police booked the accused under the Banning of Unregulated Deposit Schemes Act, 2019, and relevant sections of the Bharatiya Nyaya Sanhita (BNS), 2023 — including Sections 316(2), 316(5), 318(4), and 61(2).
The case has since been transferred to the Economic Offences Wing (EOW) for a detailed financial investigation. Officials are now scrutinizing company accounts, tracing fund transfers, and identifying potential accomplices linked to the network.
High-Return Illusion and IT Hub Impact
Police sources revealed that the Narvekars primarily targeted young IT professionals and freelancers in Pune’s Baner–Hinjawadi tech corridor, offering promises of “rapid financial growth” and “equity partnerships.”
Authorities believe the operation was a well-coordinated Ponzi-style network disguised as a legitimate business consortium.
The scam has triggered widespread alarm across Pune’s financial and IT communities, with law enforcement agencies tightening scrutiny on unregistered investment schemes.
“This case is a reminder that unrealistic profit promises are classic hallmarks of financial fraud,” said a senior EOW officer
