Mumbai News: Dairy Firm Director Booked For Cheating Baramati Company Of ₹2.48 Crore

The Amboli police have registered an FIR against director of Baramati-based dairy firm for allegedly cheating Baramati Dairy Private Limited out of Rs2.48 crore. The case was registered on April 30 following a complaint filed with the Economic Offences Wing (EOW) in October 2024. The complainant, Gurupreet Singh, 33, a resident of Andheri West, is the director of Baramati Dairy Private Limited, a company established in 2023 that focuses on trading milk and dairy products without owning production units. It operates mainly in Baramati, Indapur, and Shirur.

According to the FIR, the company’s CFO, Raunak Wasandani, met Lokhande during a work trip to Pune. Lokhande introduced himself as the Director of Vidyanand Dairy, claiming the firm had a large-scale business and offered to supply milk at a rate 50 paise lower than market price. He also claimed to have prominent industry figures as partners. Attracted by the offer, Baramati Dairy began purchasing milk from Vidyanand Dairy. In March 2024, Lokhande proposed selling milk under the Baramati Dairy brand, promising a 30 paise per litre commission and requesting a Rs1 crore advance. Singh transferred the amount from Baramati Dairy’s SVK Co-operative Bank account to Vidyanand Dairy’s Axis Bank account – without a formal agreement.

While an initial commission of Rs2 lakh was paid, subsequent payments stopped. Lokhande cited an Income Tax notice as the reason for the delay.

In May 2024, Vidyanand Dairy purchased 75 tonnes of butter worth Rs3.12 crore from Baramati Dairy but failed to clear Rs1.16 crore of the amount. Later, Baramati paid an advance of Rs32.28 lakh for 15 metric tonne of milk powder, which was neither delivered nor refunded.

Vidyanand Dairy later issued a Rs1.06 crore cheque, which bounced. Realising the extent of the alleged fraud, Singh filed a complaint, leading to Lokhande being booked under sections 316(2) (criminal breach of trust) and 318(4) (cheating) of the Bharatiya Nyaya Sanhita.