Based on the complaint, the FIR was registered on Saturday against 4B Networks company's director Yadav, management founding member Saini and their firm at Amboli Police Station.
Credit: iStock Photo
The Mumbai Police's Economic Offences Wing (EOW) has lodged an FIR against 4B Networks Pvt Ltd company's senior officials Rahul Yadav and Sanjay Saini for allegedly cheating an advertising firm of more than Rs 10 crore, a police official said on Sunday.
The complainant in the case is Rajasthan-based Vikas Om Prakas Noval, a director of the Interspace Communication Private Limited, the EOW official said.
4B Networks is a proptech company with a platform that facilitates, enables and empowers brokers and developers.
In his statement to the police, Noval alleged that Yadav's firm cheated them to the tune of more than Rs 10 crore for the work they did for the 4B Networks in 2022.
From February 2022 to September 2022, 4B Networks offered installation printing, hoardings, display and other advertising-related services, and a total of 83 advertisement hoardings were put up by Noval's company in different places in Pune city from April to August last year, as per the FIR.
Later, Noval's firm sent invoices for payments, out of which Yadav's company cleared a few, but later failed to do so, the complainant alleged. Hence, Noval approached the police and lodged a complaint with the EOW.
Based on the complaint, the FIR was registered on Saturday against 4B Networks company's director Yadav, management founding member Saini and their firm at Amboli Police Station under relevant Indian Penal Code (IPC) sections, including 420 (cheating) and 406 (breach of trust), the official said.
No arrest has been made so far, he said, adding an investigation is on into the case.
Deccan Herald is on WhatsApp Channels | Join now for Breaking News & Editor's Picks