Mumbai: The Borivali Police have arrested a 39-year-old Bengaluru-based businessman, identified as Rajat Jain, for allegedly cheating a Mumbai-based private company of Rs 36 lakh under the pretext of selling unlisted shares of the National Stock Exchange (NSE). Jain was taken into custody shortly after a complaint was lodged and later produced before the court.

According to the police, Jain had accepted Rs 95 lakh from the company for the purchase of unlisted NSE shares. While he returned Rs 59 lakh, he allegedly withheld and misappropriated the remaining Rs 36 lakh, leading to the registration of a cheating case.

Investigations revealed that the complainant, a Borivali-based stock market consultant, handled share transactions for the affected firm. In May 2025, the company had planned to acquire unlisted NSE shares when an acquaintance introduced the consultant to Rajat Jain. Posing as a genuine seller, Jain claimed ownership of ten such shares and offered to sell 5,000 units at Rs 1,900 per share, bringing the total value to Rs 95 lakh.

After a series of email confirmations, the company transferred Rs 94.95 lakh (after TDS deduction) to Jain’s bank account, along with transaction proof. However, Jain later denied receiving the funds and refused to transfer the shares. Despite being shown confirmation of the payment, he continued to dispute the transaction.

When the complainant travelled to Bengaluru to resolve the issue, Jain avoided meeting them. Later, he called them to a meeting at Hotel Radisson, where he finally admitted to the transaction and agreed to return the amount. He transferred Rs 54 lakh on the spot and assured payment of the remaining balance by June. On June 2, he paid an additional Rs 5 lakh, but thereafter stopped responding to calls and messages.

When the victims persisted, Jain allegedly threatened to file a false molestation case if they visited his home again and soon switched off his phone. Realising they had been duped, the complainant approached the Borivali Police, who registered a case of cheating and criminal breach of trust under relevant sections.

Jain was traced and arrested within hours. Police have launched a detailed probe to track the misappropriated funds and are checking if he has defrauded others using a similar modus operandi.

New Delhi, Nov 13: The Enforcement Directorate (ED) has arrested Manoj Gaur, Managing Director of Jaypee Infratech Limited, in a money laundering case linked to the alleged siphoning of money paid by homebuyers for the construction of flats, according to sources on Thursday.

The Enforcement Directorate had in May carried out searches at 15 premises linked to Manoj Gaur’s flagship real estate development companies — Jaypee Infratech Ltd., and Jayprakash Associates Ltd, as well as their associated entities.

During the operation, officials seized hard cash to the tune of Rs 1.7 crore, along with financial records, digital data, and property documents registered in the names of promoters, their family members, and group companies.

The raids were carried out across Delhi, Mumbai, Noida, and Ghaziabad as part of an ongoing investigation under the Prevention of Money Laundering Act (PMLA).

IDBI Bank had first filed a petition against Jaypee Infratech Limited (JIL) in the National Company Law Tribunal (NCLT), Allahabad, after JIL defaulted on a payment of over Rs 526 crore. The NCLT initiated the insolvency process on August 9, 2017.

The insolvency case gained national attention due to over 21,000 homebuyers who had booked flats in JIL projects being left in the lurch as money had been diverted from construction projects, primarily in Wish Town, Noida.

The Supreme Court intervened to protect their interests, eventually leading to an amendment to the IBC that classified homebuyers as financial creditors, giving them a vote in the resolution process.

The case involved extensive legal proceedings, including disputes over transactions where JIL’s assets were mortgaged to secure the debts of its parent company, Jaiprakash Associates Limited (JAL).

After several rounds of bidding, the National Company Law Appellate Tribunal (NCLAT) approved a resolution plan submitted by the Suraksha Group in May 2024. Under this plan, Suraksha is to complete the unfinished projects and pay enhanced compensation to farmers as part of the land acquisition terms.

Guwahati, Nov 13: Assam Chief Minister Himanta Biswa Sarma on Thursday said the state government would remain “uncompromising against those who glorify violence”, as police intensified a crackdown on individuals posting inflammatory and offensive content on social media following the recent Delhi blasts.

Taking to the social media platform X, the Chief Minister informed that 15 persons have been arrested across Assam in connection with objectionable posts that allegedly attempted to justify or celebrate the blasts.

He said that the government has directed the police to act firmly against any attempt to disturb communal harmony or spread hatred through online platforms.

“In connection with the offensive social media posts following the Delhi blasts, 15 persons have been arrested across Assam so far. Assam Police remains uncompromising against those who glorify violence,” CM Sarma wrote on X.

According to the Chief Minister, nine persons were arrested overnight in addition to six arrests made earlier.

The latest arrests include Rafijul Ali from Bongaigaon, Forid Uddin Laskar from Hailakandi, Inamul Islam and Firuj Ahmed alias Papon from Lakhimpur, Shahil Shoman Sikdar alias Shahidul Islam and Rakibul Sultan from Barpeta, Nasim Akram from Hojai, Taslim Ahmed from Kamrup, and Abdur Rohim Mollah alias Bappy Hussain from South Salmara.

Earlier, six others had been arrested from different districts for similar offences.

Police said that all 15 individuals were apprehended for posting or sharing content that allegedly glorified acts of terror or attempted to spread communal tension.

A senior police officer said that Assam Police’s cyber teams are actively monitoring online activities and will continue to take strong action against anyone found misusing social media.

“We are keeping a close watch on digital platforms. No one will be spared if found promoting violence or disturbing public peace,” the official added.

Assam Chief Minister Himanta Biswa Sarma issued a sharp warning on Wednesday in the wake of the recent Delhi blast, describing it as a grim reminder that education alone cannot prevent radicalisation.

On Wednesday, he called the Delhi blast incident a “new dimension of extremism”, saying that the nation must re-examine its assumptions about what drives people towards terror and ideological violence.

The Chief Minister’s statement underscores the state government’s zero-tolerance policy toward online extremism and its commitment to maintaining peace and social order across Assam.