A Bollywood movie producer has been arrested for allegedly duping a businessman of ₹32 lakh on the pretext of getting him a loan at a cheaper rate, the police said on Monday.
DCP (South) Atul Kumar Thakur said the accused has been identified as Ajay Yadav, who was arrested from Uttar Pradesh’s Mathura. He was previously arrested by the Special Cell of Delhi Police and the Kandivali unit of Mumbai Crime Branch.
The accused is the director of Serene Pvt. Ltd. and producer of six Bollywood movies — Overtime, Bhadash, Love Fir Kabhi, Ran-Banka, Suspense and Shakshi. He invested all the cheated amount in producing movies but most of them flopped due to which he suffered huge losses, they said.
A businessman from Okhla Industrial Area, Rahul Nath, approached the accused, saying he wanted to expand his business and was in need of a loan of ₹65 crore.
“The accused presented himself as the director of Serene Films, a reliable Mumbai-based financial consultant. Yadav assured Mr. Nath that the loan would be approved against his property in Delhi’s Satbari for 10 years on 10% interest per annum,” Mr. Thakur said.
Yadav sought registration fee of documents from Mr. Nath. He visited Delhi multiple times on Mr. Nath’s expenditure.
Fake address
After taking the amount, the accused switched off his mobile phone. The address given by him was also found to be fake. The accused had duped multiple people using different names in a similar way, the officer said. During investigation, it was found that a film named Sakshi, produced by the accused, had released recently. A police team was sent to Mumbai. It then came to light that the accused was in Madhya Pradesh’s Indore. He was subsequently found to be in Mathura after which a raid was conducted and he was nabbed. Accused is found to be involved in 11 criminal cases, said an officer.
