Punjab trader arrested for duping man of Rs.10 mn
June 15th, 2011 - 3:39 pm ICT by IANSChandigarh, June 15 (IANS) The Economic Offences Wing (EOW) of Chandigarh police has arrested a Punjab-based businessman for duping a city resident of Rs.10 million (Rs.1 crore), police said Wednesday.
According to the police, Vikas Handa, who owns Villa Pearls in Ludhiana, some 100 km from here, was arrested Tuesday for allegedly duping Rakesh Kumar Gupta in a business deal.
Handa’s brother Vinit Handa and his father V.K. Handa, who have also been booked in the case, are absconding, the police official said.
“Vikas Handa had struck a business deal with Gupta, a Sector 27 resident here. Handa had to supply him Italian interior design material after receiving Rs.1 crore in two instalments of Rs.75 lakh and Rs.25 lakh,” the official said.
Handa neither provided him the material nor returned the money, but started threatening Gupta, the official added.
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Tags: 1 crore, 10 million, brother, business deal, businessman, design material, economic offences, gupta, handa, instalments, italian interior design, lakh, money, pearls, police official, rakesh kumar, rs 1, sector 27