Ahmedabad: Coal trader alleges Rs 64 lakh fraud, files police complaint

Ahmedabad: A coal trader on Thursday lodged a complaint with Vastrapur police alleging that he was cheated of more than Rs 64 lakh in a series of business dealings spanning over two-and-a-half years.

According to the complainant — a resident of Bodakdev and a partner in a coal trading firm — the alleged fraud was carried out by a broker and four business associates between Dec 2022 and July 2025.

Police said the complainant came in contact with a Kutch-based coal broker through a common acquaintance in 2022. The broker allegedly presented himself as an experienced intermediary in the coal trade and promised to arrange coal supplies at competitive rates while securing buyers for the material.

The complainant alleged that based on these assurances, his firm made multiple payments to different companies for coal consignments that were either never delivered or were allegedly diverted elsewhere. According to the FIR, the company transferred Rs 7.3 lakh to an entity for coal purchases and was also expecting commission payments from another firm. However, neither the material nor the dues were received.

The complaint further states that on the broker’s advice, the firm paid Rs 31.5 lakh to an enterprise between Jan and March 2023 for importing coal from Indonesia. Despite the payments, no coal was supplied. The complainant alleged that he had arranged funds through loans from finance companies and was assured that the loan instalments would be reimbursed, but the payments stopped after a few months.

The complainant also alleged irregularities in transactions involving other firms. He claimed that coal consignments were never delivered despite payments being made and that false invoices and transport documents were generated in the name of his company to show delivery of material.

According to police, the complainant has accused several companies of conspiring to cheat his firm of Rs 64.3 lakh.

Vastrapur police have registered an offence of cheating, criminal breach of trust and conspiracy and have launched an investigation into the allegations.