Mumbai: Businessman held hostage in his house, Rs 55 cr looted

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A businessman living in the Kalabadevi area of South Mumbai was held hostage in his own house and Rs 55 crore were looted from his safe, according to police, reported news agency ANI.

Mumbai police said that this incident happened in Aditya Heights of Kalabadevi when the businessman was alone in the house and at the same time four unknown people entered his house, reported ANI.

According to police, the four accused first beat the businessman severely and then held him hostage and then cleared his safe which contained Rs 55 lakh. After stealing the money, the accused fled from the house, reported ANI.

The incident took place on Sunday. After getting information about the incident, the police registered a case based on the statement of the businessman and started an investigation, reported ANI.

In this case, LT Marg police have registered a case against unknown people under sections 454, 392, 341 and 34 of IPC, reported ANI.

Police are searching for the suspect with the help of CCTV cameras present in the area, reported ANI.

Further investigation is underway. More information is awaited.

In another case, the Mumbai police's Economic Offences Wing (EOW) has arrested a resident of Ahmedabad for allegedly fraudulently transferring equity shares worth about Rs 24 lakh, belonging to another man, in his name, an official said here on Sunday, reported PTI.

Accused Vikram Shankarlal Shah took advantage of the similarities between his name and that of Mumbai-based businessman Vikram Subhashchandra Shah to commit the alleged crime, the official said, reported PTI.

The complainant, who lives in Mumbai's Borivali area, held 6,430 shares of Sa Re Ga Ma India Limited in physical form since 1999. The shares are now worth Rs 23.85 lakh, the official said, reported PTI.

In 2021, the complainant tried to move the shares to his demat account, which is in electronic form. However, he learnt that someone had already staked a claim over the shares, reported PTI.

The complainant first reported the matter through SEBI SCORES, which is a web-based centralised grievance redressal system of the market regulator, reported PTI.

In the subsequent inquiry, it was found that Ahmedabad resident Vikram Shankarlal Shah had got the shares transferred in his name, reported PTI.

Taking advantage of similar names, the accused prepared a forged death certificate of the actual shareholder and made a false affidavit to get the shares transferred in his name, said the EOW official, reported PTI.

The EOW arrested the accused from Ahmedabad on Thursday and brought him to Mumbai. A case has been registered against him under Indian Penal Code section 420 (cheating), the official added, reported PTI.

(With inputs from ANI and PTI)