Mumbai, Nov. 16 -- A 23-year-old man from Kurla was booked on Friday for allegedly siphoning off Rs.4.47 crore from his employer, MTC Business Pvt. Ltd, where he worked as a senior executive. According to the police, the accused, Shivshant Upadhyay, joined the company as a senior executive (supply chain) in April 2025 and has been working on probation. The company, MTC Business Pvt. Ltd, engaged in the steel raw materials trade. Recently, an internal audit revealed that the company had not paid customs duty worth Rs.4.47 crore, due between October 14 and November 4. It was also noticed that Upadhyay, who is responsible for depositing customs duty, has stopped reporting to work since November 3. Reviewing the company's bank transactions then revealed that Rs.4.47 crore, meant to be paid as the customs duty, was transferred to a firm named Shivay Shipping and Logistics, said a police officer. Subsequently, the director of the company, Sunil Dave, 44, approached the police on Friday. It was then found that Shivay Shipping and Logistics was a firm registered on Upadhyay's father's name in October 2025. He had allegedly diverted the employer's funds to the firm he had registered on his father's name and had gone absconding. Following this, based on Dave's complaint, the police registered a case against Upadhyay under Sections 316(5) (criminal breach of trust) and 318(4) (cheating) of the Bharatiya Nyaya Sanhita....