Promised ₹100cr loan, garment businessman loses ₹1 crore

Bengaluru: A 47-year-old businessman from Mysuru lost Rs 1 crore to a gang that promised him a loan of Rs 100 crore to expand his garment business.
Electronics City police have taken up a cheating case against three persons based on a complaint filed by Vincent, who planned to venture into exports. Estimating his requirement at Rs 100 crore, he was desperately seeking big loans to meet his immediate working capital needs.His friend Subramani introduced him to one Sanjaya Shukla, who promised to arrange a loan of Rs 100 crore.
Shukla asked Vincent to pay 1% of the amount to his boss, who runs a private company in Chandigarh. Vincent agreed and arranged a meeting with a duo at a hotel in Electronics City on January 26. He paid them Rs 5 lakh in cash at the hotel and Rs 30 lakh the next day. He transferred Rs 63 lakh to a bank account and gave another Rs 2 lakh in cash on January 29.
The gang promised to transfer the loan amount by evening and went incommunicado. Realising he had been tricked, Vincent filed a cheating case against Shukla and two others (Rahul Tiwary and Ashraf Khan). Probe is on to trace and arrest them. tnn