All posts tagged: 14.23cr

Two owners of Cable Corporation of India booked for Rs 14.23-cr fraud | Mumbai News

The Economic Offences Wing (EOW) of the Mumbai Police on Monday registered an FIR against two owners of the Cable Corporation of India (CCI), a leading manufacturer of a wide range of power and control cables, for allegedly duping another cable and wire supply company of Rs 14.23 crore. Owners of CCI Hiten Khatau and Rohan Khatau, along with the company’s office-bearers, were booked under sections 420 (cheating), 406 (criminal breach of trust) and 120B (criminal conspiracy) of the Indian Penal Code. The FIR followed a complaint by the chairman and managing director of an Andheri-based company, which is into the business of supplying cable and wires for prominent cable work operators and contractors. In 2022, the complainant learned that CCI, a leading manufacturer of a wide range of power and control cables, had suffered a huge loss in business, due to which their plant in Malegaon MIDC was shut down. The complainant decided to buy the said company, police said. After meetings with CCI owners, the complainant decided to buy the company’s cable and …