SAHIBABAD: What began as a routine discussion about investment and startup funding at a hotel near a Mumbai Metro station ended with two mobile phones missing, a company bank account emptied of ₹1.40 crore, and a criminal case now unfolding under court supervision
An Investment Pitch and a Hotel Meeting
According to the complaint, the sequence of events began on April 4, when two men contacted the managing director of an e-commerce company, presenting themselves as potential investors. They proposed to complete the formalities required to initiate funding and asked the company’s director to meet them in person.
The complainant agreed, and the meeting was fixed near the Oshiwara Metro Station, from where the two men took him to a nearby hotel. There, they discussed documentation and the process required for investment. The accused allegedly assured him that the investment would begin the same day, with an initial transfer of ₹3 lakh into the company’s bank account.
During the meeting, the complainant was led to believe that the process was legitimate and aligned with standard startup funding practices.
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Mobile Phones Taken on the Pretext of Verification
During the course of the conversation, one of the accused allegedly asked for both mobile phones belonging to the complainant and his associate. The stated reason was the need to verify investor data, create profiles, and confirm bank account details on the company’s systems.
The accused reportedly cited “technical issues” and stepped outside the hotel with the phones, saying the process would take only a short while. When he did not return for several hours, concern grew. At around 8 p.m., the second accused left the hotel as well, saying he would go to look for his associate.
Neither of the two men returned. Both mobile phones were taken away, and contact with the accused was lost from that point onward.
Bank Accounts Frozen After Large Transfers Detected
After waiting for some time, the complainant approached his telecom service provider and banks to block the SIM cards and freeze the relevant accounts. Upon checking the company’s bank statements, he discovered that ₹1,40,37,246 had been transferred from the company account to multiple other bank accounts.
The transfers, according to the complaint, were unauthorized and carried out after the mobile phones were taken. The complainant alleged that when he initially approached the police, no immediate relief was provided. Subsequently, he moved the court, following which directions were issued to register a case and initiate an investigation.
The incident reportedly took place last year, but formal police action began only after court intervention.
Police Investigation and Digital Evidence
Assistant Police Inspector Indirapuram Shrivastava stated that CCTV footage from the hotel has been obtained as part of the investigation. Authorities are also examining the recipient bank accounts to which the funds were transferred, tracing the flow of money and identifying possible beneficiaries.
In the complaint, the managing director — a resident of Karnataka and head of an e-commerce company registered as NXS Global India Private Limited — stated that he had registered the company on the MSME portal to secure startup funding and expand operations. According to him, the two accused, identified as Aman and Abhay, contacted him on March 30, 2025, offering investment support.
Police say the investigation is ongoing, with a focus on financial trails, digital evidence, and the identification of all individuals involved in the alleged fraud.
