Thane Police have registered a case against two individuals for allegedly cheating 12 investors of Rs 1.78 crore through a fraudulent share market scheme promising high returns, reported news agency PTI.

The accused have been identified as Sagar Subodh Karivadekar, a resident of Sindhudurg, and Sachin Balkrishna Rane from Thane. The case was registered based on a complaint filed by a woman from Bhandup in neighbouring Mumbai, reported PTI.