The owner of Nutan Dal Mill, a chain of grocery stores and one of the leading businesses in the sector in Mumbai, has been arrested by Goregaon police for allegedly cheating a 34-year-old woman to the tune of Rs 41.5 lakh by promising her 15 per cent returns. Police said he duped a number of his customers using this modus operandi.

The case came to light after Anita Roopsingh Kadecha approached the police last month. Kadecha, an event decorator, said she had met the accused, Ketan Rambhiya, through a friend who had also invested money with him. Between June 2019 and December 2020, Kadecha invested a total of Rs 41.5 lakh. However, when she asked for returns, Rambhiya convinced her to keep the money with him for one more year for 16 per cent returns.  However, even after that said period was over, Rambhiya failed to return the money. Kadecha then examined the court stamp papers of her investments and found that most of the papers had the same serial number. After consulting with a lawyer, she approached the police.