Mumbai: The Enforcement Directorate (ED) has arrested two persons for allegedly cheating investors in Gujarat and Maharashtra of around Rs 300 crore through digital investment schemes and laundering the proceeds. A court has remanded the accused Sudhir Kotadiya, 33, and his cousin, Umang Kotadiya, 27, from Amreli to ED custody till March 20.

The money laundering case was registered based on an FIR initially filed at the Vartak Nagar police station in Thane and later transferred to the Economic Offences Wing (EOW).

Investigators allege the accused operated a large-scale digital investment scheme through several entities, including Qfonn App Limited, Qfon Connect India LLP, Qfon Entertainment Pvt Ltd, and Qfon Ajobman India LLP, among other related firms.

ED prosecutor Arvind Aghav, seeking their custody, told the court that the accused had been absconding, prompting authorities to issue a look-out circular.

He said the duo fled to Dubai and later re-entered India via Nepal to evade legal action before being traced and arrested in Gujarat.

According to investigators, the accused lured people to invest by promising monthly returns ranging from 2% to 10.5%, claiming the income would be generated through online advertisement viewing and app-based digital activities.

The probe found that funds from new investors were used to pay returns to earlier investors, while a significant portion was allegedly siphoned off.

One investor who had put in Rs 183 crore provided details of about 60 companies, entities and individuals whose bank accounts were allegedly used to collect nearly Rs 55 crore on the instructions of the accused.

The ED claims Sudhir Kotadiya was the mastermind behind the Qfonn app-based Ponzi scheme and held 25% shares in Qfonn App Limited, with another 25% held by his wife, Ranjanben Kotadiya, while the remaining shares were with other family members.

Umang Kotadiya allegedly handled operations, serving as director or partner in multiple Qfon group entities and acting as an authorised signatory for several bank accounts linked to the scheme.

Mumbai: Authorities in Mumbai have busted a gas cylinder black-marketing racket in Worli and seized several LPG cylinders during an operation, Mumbai Police said. The action comes at a time when concerns over cooking gas availability have triggered panic bookings in parts of the country.

During the raid, officials recovered six filled and 58 empty HP Gas cylinders along with several other cylinders from the location. Police said the stock was being illegally stored inside residential premises. The seized cylinders have been handed over to Worli Police Station, where further legal action is being initiated against those involved in the illegal storage and distribution.

Officials stated that storing and selling LPG cylinders outside authorised channels poses serious safety risks, especially in residential areas where such stockpiling can lead to fire hazards and other emergencies. Authorities are now investigating the source of the cylinders and the possible distribution network linked to the racket.

The development comes amid heightened demand for LPG across the country, the Union government on Friday said it is ensuring uninterrupted supply of cooking gas to households despite a surge in panic bookings. Consumers have been advised not to rush to dealerships or place unnecessary refill orders.

At a media briefing on Friday, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said fears of a shortage have led to a sudden spike in LPG cylinder bookings in recent days, even though supplies remain adequate across the country. She emphasised that LPG distributors currently have sufficient stocks and that supply chains are functioning normally.

The government has also advised nearly 60 lakh households located near piped natural gas (PNG) networks to consider switching to piped connections for convenience. Sharma warned that strict action will be taken against hoarders and black marketers attempting to exploit the crisis triggered by the ongoing conflict in West Asia.

While LPG supply to households, hospitals, and educational institutions continues to be prioritised, supplies to commercial establishments such as hotels and restaurants have been curtailed due to disruptions in energy sourcing linked to the geopolitical tensions in the region.

To stabilise supply, the Centre has increased domestic production by 30 per cent since March 5 by diverting refinery streams to maximise cooking gas output. Additionally, around 20 per cent of commercial LPG supplies have been placed with state governments and Union Territories, allowing local administrations to decide priority allocation based on regional requirements.

Thane: Two women in Kalyan-Dombivli have fallen victim to an online fraud after scammers allegedly posed as representatives of Mahanagar Gas Limited and tricked them into downloading a malicious application on their phones, police confirmed on Friday.

According to Suhas Hemade, Assistant Commissioner of Police, the victims received calls from an unknown person claiming to be from the gas distribution company. The caller asked them to download and open an APK file and fill out a form on their mobile phones under the pretext of updating gas-related information.

After the women completed the process, around Rs 4 lakh was allegedly debited from their bank accounts. Police have registered two cases of online financial fraud at Dombivli Police Station and launched an investigation into the incident.

The scam has surfaced at a time when several parts of the Mumbai Metropolitan Region, including Navi Mumbai and Thane, are witnessing an acute shortage of LPG cylinders.

Earlier today, residents in Sanpada were seen queuing up from as early as 3 am to obtain LPG cylinders amid dwindling supply. Viral visuals shared on X showed large crowds gathered outside a gas agency, with people waiting in long queues carrying empty cylinders.

The shortage has also severely impacted the hospitality sector across the region. According to Vijay Shetty, president of the Association of Hotels and Restaurants (AHAR), around 20 percent of the city’s 16,000 restaurants had shut by Tuesday due to the shortage, with the number rising to 35 percent on Wednesday.

In addition, more than 20 percent of hotels in Raigad district and Navi Mumbai had reportedly shut operations by March 11 as LPG supplies dried up. Hoteliers have alleged that cylinders are being sold in the black market at prices starting from Rs 3,000, higher than usual rates.

Hotel associations have urged authorities to immediately ensure adequate LPG supply to prevent further closures and protect the livelihoods of thousands of workers dependent on the hospitality sector.