The Navi Mumbai police have filed a case against the owner of a company for allegedly defrauding 11 car owners and amassing nearly Rs 62 lakh, an official told PTI. According to the report, the accused took possession of their vehicles under the guise of offering "attractive" monthly rent.

Satyaprakash Varma, who purportedly runs a financial services company, is accused of defrauding car owners from April to August of this year, according to the official, stated PTI report. Varma allegedly did not only fail to make the promised rent payments of Rs 10.97 lakh, but also kept cars worth Rs 51 lakh that belonged to their respective owners, the report added.