Jamnagar businessman alleges 73L cheating by UP-based firm

Rajkot: A 51-year-old Jamnagar-based businessman has lodged a complaint at the Jamnagar City C Division police station on Saturday against the directors of an Uttar Pradesh-based company, alleging misappropriation of more than Rs 73 lakh.The complainant, Raju Modhwadia, a resident of Krishnanagar and a partner in Vijay Construction, has accused H L Saxena, director of Saxena Marinetech Private Limited, and Atul Srivastava, its executive director, of cheating and criminal breach of trust under Sections 406, 114 and other relevant provisions of the Indian Penal Code.According to the complaint, Vijay Construction secured a Military Engineer Services (MES) contract through a tender process in Sept 2022. The firm subsequently entered into a memorandum of understanding (MoU) with Saxena Marinetech Pvt. Ltd., based in the Surajpur Industrial Area of Greater Noida, Uttar Pradesh, for the construction of a pre-engineered building (PEB) hangar.As part of the agreement, Vijay Construction transferred Rs 1.14 crore to Saxena Marinetech Pvt. Ltd. via RTGS from its Bank of Baroda account in Jamnagar for fabrication materials. However, the accused company allegedly supplied materials worth only Rs 40.42 lakh. Despite repeated follow-ups, the remaining amount of Rs 73.57 lakh was neither adjusted nor refunded, the complaint states.Police said a case has been registered and further investigation is underway.