Mumbai: The Economic Offences Wing (EOW) of Mumbai Police on Monday registered a fresh case of alleged cheating, criminal breach of trust, and criminal conspiracy against former directors and officials of companies linked to the Anil Dhirubhai Ambani Group (ADAG).

According to police officials, the accused allegedly obtained a bank loan of ₹150 crore and later diverted the funds for purposes other than those for which the loan was sanctioned, eventually defaulting on repayment. This is the second FIR registered following a complaint filed by Axis Bank against companies associated with the ADAG group.

An EOW source said the latest case was registered at Cuffe Parade Police Station on the complaint of Prakash Prabhakar Rao, Vice-President of Axis Bank. Rao had earlier lodged another FIR in March this year against several ADAG-linked firms and their directors on similar allegations.

The FIR names the then whole-time director of Reliance Home Finance Limited (RHFL), former directors of beneficiary companies within the ADAG group, and other concerned company officials.

Police officers said the alleged offence took place between January 2010 and November 2019. Investigators suspect that the accused, in connivance with former directors of the company, entered into a criminal conspiracy to defraud the complainant bank and cause wrongful financial loss.

According to police sources, the accused allegedly submitted forged documents, furnished false financial information, and made misleading disclosures regarding the financial condition of RHFL to secure the loans. The funds were then allegedly diverted to accounts of other affiliated group companies.

Officials further said that the EOW is examining the financial trail and the role of various company officials in the alleged diversion of funds. Earlier, on March 12 this year, the EOW had registered another case on similar grounds against companies linked to the Anil Ambani group.

Mumbai: The Mumbai Crime Branch has arrested the main accused in the Byculla firing case linked to the attack on Sameer Mohammad Asif Khan alias Sameer Sheikh, the son of alleged D-Company gangster Asif Sheikh alias Asif Dadi.

the main accused has been identified as Saif Mastan. He was arrested in West Bengal after remaining absconding for several days. The firing targeted Sameer Sheikh over an alleged financial dispute.

Earlier, on May 13, within 24 hours of the firing, the Mumbai Crime Branch had arrested two other accused from Mahim. Two suspects were arrested in connection with the firing case. The suspects, identified as Zeeshan Anwar Sheikh (30) and Sadik Sheikh Liyakat Sheikh (30), were arrested by Crime Branch officials from the Mahim Dargah area.

Mumbai: CNG consumers have received temporary relief as Compressed Natural Gas (CNG) prices in the city have not been increased despite another fuel hike announced in Delhi and the NCR on Tuesday.

While Indraprastha Gas Limited (IGL) raised CNG prices in Delhi by Rs 2 per kg, taking rates to Rs 83.09 per kg from May 26, Mahanagar Gas Limited (MGL) has kept CNG prices unchanged across Mumbai and the Mumbai Metropolitan Region (MMR).

This means CNG in Mumbai continues to remain priced at Rs 84 per kg, following the earlier hike implemented by MGL earlier this month. The latest Delhi revision marks the fourth CNG price increase in less than two weeks amid rising global energy prices and pressure on domestic fuel retailers.

Although there has been no fresh hike in Mumbai today, auto-rickshaw unions in the city have already renewed their demand for a fare revision after the previous Rs 2 per kg increase announced by MGL on May 14.

Mumbai’s auto unions have argued that rising fuel costs and inflation have increased operating expenses for drivers. Union representatives recently met transport department officials and submitted revised fare calculations based on recommendations of the B Khatua Committee.

At present, the minimum auto-rickshaw fare in Mumbai stands at Rs 26, while passengers are charged Rs 17.14 per kilometre after the base fare. According to union calculations, the per-kilometre fare should now increase to Rs 18.17.

“The expenses on fuel have increased substantially for auto-rickshaw drivers. Inflation and higher Consumer Price Index levels have also affected daily running costs,” Mumbai Rickshawmen’s Union General Secretary Thampi Kurien had said while demanding a fare hike.

The latest developments come at a time when petrol and diesel prices have witnessed repeated hikes across the country over the past two weeks, increasing concerns over transportation costs and inflationary pressure in Mumbai and other metro cities.

Despite today’s relief for Mumbai commuters, transport operators and auto unions are closely monitoring fuel pricing trends amid fears that further increases in global crude oil and gas prices could eventually impact CNG rates in the city as well.