SURAT— A scrap dealer based in Vesu, Sujit Gupta, has been caught in a sprawling fraud, allegedly orchestrated by three individuals promising high-quality domestic and international scrap metal at suspiciously low rates. The scheme, spanning deals in India and Mauritius, resulted in a loss of over ₹2.19 crore for Gupta, leading to a major investigation launched by the Detection of Crime Branch (DCB).
The alleged conspiracy began in 2022 when two of the accused, Neelamni Srivastava and Arun Agrawal, approached Sujit Gupta, a Vesu-based scrap dealer. They presented themselves as partners in a well-established firm with offices in Thane, a large warehouse in Bhiwandi, and an overseas presence in Mauritius. To build credibility, they invited Mr. Gupta to tour their Indian facilities and promised a continuous supply of superior-quality scrap at prices significantly below the prevailing market rates. They assured him that Indian stock would be delivered within a week, while international shipments would arrive in about a month.
Millions Transferred, Deliveries Short
Between September 2022 and March 2023, Mr. Gupta entered into multiple transactions based on these assurances. Initially, he transferred ₹2.01 crore for Indian scrap, from which he only received goods worth ₹1.64 crore. Following this, the accused shifted focus to international deals, convincing him to pay an additional ₹71.18 lakh for more scrap, but only returning ₹26 lakh of the amount due. The deception escalated when the accused, through a claimed firm named Radiant Overseas in Mauritius, took a payment of ₹4.84 crore for an international deal. Despite receiving the large sum, they only delivered goods worth ₹3.46 crore.
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The Unraveling in Mumbai and Mauritius
As the promised deliveries stalled and funds remained unpaid, Mr. Gupta realized he was being defrauded. He even spent six months in Mauritius in a fruitless attempt to finalize the international agreements and secure the products. When he visited the accused’s Mumbai office, hoping for a resolution, Mr. Agrawal and another partner, Sandeep Shirodkar, allegedly denied any business dealings with him and directed him back to Mr. Srivastava. This denial solidified the realization that the international scrap venture was a ruse.
Police Launch Investigation
Faced with a total loss of ₹2.19 crore and the evasive actions of the accused, Mr. Gupta officially approached the police. Acting on his complaint, the Detection of Crime Branch (DCB) has formally registered a case against the three individuals. The DCB’s investigation is now focused on tracking the financial transfers and the movements of the accused, who leveraged promises of high returns and the complexity of international trade to execute the large-scale fraud.
