India, Jan. 29 -- In a major case of fraud, the Maharashtra Industrial Development Corporation (MIDC) Bhosari police have arrested two individuals and booked eight others for allegedly duping a businessman of Rs.1.20 crore. The accused had promised the businessman a loan of Rs.100 crore to help expand his business.

The incident occurred between July 1, 2023 and July 6, 2023 at Moshi in Pune district. After initial investigation, the police on January 27 filed a complaint and arrested Santosh Karmalkar, 48, from Moshi; and Kiran Jagtap, 30, from Alandi. The police also booked Mahesh Shelar; Vikas Sonawane, 38, from Wanwadi; Amar Shingade alias Patil from Islampur in Sangli district; Patel and Swami (full name not known) from Surat; Swami ...