Mumbai: Bhandup Engineering Company Accuses Loan Consultant of Defrauding Rs 41.5 Lakh
Mumbai, 17th February 2025: An engineering firm based in Bhandup filed a police report against loan consultant Mohammad Zulfiqar Boler and his business, Trident Enterprises, accusing them of fraud. The company claims that Boler and his associates, under the pretence of securing an Rs 8 crore business loan, took an advance processing fee of Rs 1.5 lakh and defrauded the firm of Rs 41.5 lakh.
Bhandup police have filed charges against Boler and Trident Enterprises officials under various sections of the IPC, including cheating, forgery, breach of trust, and intimidation. The complainant, Niti Parmesh Yadav, who owns N.K. Engineering, a workshop located in Asangaon, Thane, reported that Boler promised the loan would be approved by Yes Bank within 45 days. However, Boler demanded a 15% commission of Rs 1.2 crore. Between December 2022 and December 2023, the company transferred Rs 30 lakh to Trident Enterprises’ account. When the loan failed to materialize, Boler allegedly demanded an additional Rs 11.5 lakh, but the loan was never sanctioned.
