Police in Maharashtra`s Thane district have registered a case against a former manager of a private company for allegedly misappropriating funds and assets worth Rs 63.8 lakh, an official said on Friday, reported news agency PTI.
In his complaint to the Shil-Daighar police station, the owner of the company that deals in oxygen cylinders said the accused worked with them from July 2021 to August 2025.
“The complainant found major discrepancies in the company`s accounts during a recent audit. It emerged that the accused had been swindling money and misappropriating assets,” reported PTI.
According to the police, accused Purnachandra Panigrahi allegedly diverted Rs 35 lakh from the sale of gas cylinders, misappropriated 500 oxygen cylinders worth Rs 22.5 lakh and a few assets, collectively misappropriating Rs 63.8 lakh, reported PTI.
The accused has been booked for cheating under the Bharatiya Nyaya Sanhita, the official said, adding that an investigation is in progress.
Thane man loses Rs 3.96 crore in online share trading fraud
In another case, a 48-year-old man from Maharashtra`s Thane was duped out of nearly Rs 3.96 crore through an online share trading fraud, officials said on Friday, reported PTI.
The victim, who works as a senior manager in a private company, lost the money between May and October, they said.
In his police complaint, the man said he was approached by three persons — one Shankar Ramrakhiyanai, an administrator of a WhatsApp group claiming to be linked to a securities company, and a woman identified as Suraksha, reported PTI.
The accused coaxed him to invest in shares and various equity market transactions, promising high returns, an official said.
Trusting their assurances, the man transferred about Rs 3.96 crore into several bank accounts.
“The accused created an impression of legitimacy through trading links and structured schemes. Once the funds were transferred, they cut off communication. We are verifying all digital and financial trails,” said an official, reported PTI.
The Cyber police station in Thane city registered a case on Wednesday, he said, adding that a probe is underway.
(With inputs from PTI)
