Mumbai: The Byculla police have registered a case of cheating against a Jalgaon-based trader, identified as Amol Bhaskar Mahajan, for allegedly defrauding a Mumbai import-export businessman of Rs1.30 crore under the pretext of supplying bananas for export to Iran.

According to the FIR, the complainant, Abbas Mohammad Ali Deghani, 38, runs an import-export business dealing in fruits with markets in Iran, Iraq, and Dubai. He exports commodities such as bananas and turmeric to Iran and, due to trade practices requiring barter transactions, imports dates, pistachios, apples, and kiwis in return.

The complaint states that Deghani came into contact with an Iran-based broker, Mojtaba Ashuri, who deals in banana trade. Ashuri allegedly introduced Deghani to Mahajan, claiming that he owned a company named Sanriya Agro Produce OPC Pvt. Ltd. and was a major banana trader based in Jalgaon. Ashuri also shared Mahajan’s bank account details at an Axis Bank branch in Jalgaon.

Between October 21, 2022, and January 21, 2023, Deghani transferred a total of Rs1.30 crore to the said account for the purchase of bananas. However, despite receiving the full payment, Mahajan neither supplied the consignment nor refunded the money.

When Deghani repeatedly attempted to contact Mahajan through calls and messages, he allegedly failed to respond. During this period, Mahajan is said to have sent four invoices via WhatsApp to Ashuri in the name of his company. These invoices bore a director’s stamp but lacked any signature, raising suspicion. Ashuri subsequently forwarded these invoices to Deghani.

The FIR further notes discrepancies in the invoices, including inconsistencies between amounts mentioned in US dollars and Indian rupees, indicating that the documents were fabricated and had no legal validity.

Upon realizing that he had been cheated, Deghani approached the Byculla police station and filed a complaint. Based on his statement, the police have registered a case under relevant sections of the Indian Penal Code and have initiated further investigation into the matter.

Mumbai:  In a tragic incident, three people were killed in a severe road accident on Marine Drive in the early hours of Monday.

The vehicles involved in the accident were extensively damaged, indicating the severity of the crash. A case has been registered at Marine Drive Police Station, and further investigation is underway to ascertain the exact cause of the accident.

In the viral video, a KTM Duke can be seen lying along the pavement, believed to be the primary vehicle involved in the crash. Two other damaged two-wheelers can also be seen in the video, indicating a possible multi-vehicle crash.

According to police, the incident occurred around 5:40 am on the northbound stretch of NS Road near Parsi Gate. The motorcycle, bearing registration number MH01EL6366, was being driven at high speed when the rider allegedly jumped a signal and struck an elderly man who was crossing the road.

The impact of the collision was severe, resulting in the death of the pedestrian on the spot. The two riders on the motorcycle, a man and a woman, also sustained critical injuries in the crash. All three victims were rushed to GT Hospital with the help of local responders. However, doctors declared them dead on arrival.

The accident caused a brief disruption in traffic along the busy stretch, even as police reached the spot and initiated further investigation. Authorities are examining the exact sequence of events and whether overspeeding and signal violation led to the fatal crash. The identities of the deceased are yet to be officially confirmed.

Mumbai, Gold and silver prices traded on a flat note on Monday amid a rise in crude oil prices and reports of a fresh proposal by Iran to end the conflict with the US, raising hopes of de-escalation in the Middle East.

On the Multi Commodity Exchange (MCX), gold futures (June 5 contract) were trading at Rs 1,52,410 per 10 grams, down 0.19 per cent or Rs 290 from the previous close of Rs 1,52,699.

By 11:00 A.M., the yellow metal touched an intraday high of Rs 1,53,008, up 0.20 per cent or Rs 309.

Meanwhile, silver futures (May 5 contract) were trading at Rs 2,43,200, down Rs 1,436 or 0.6 per cent.

The white metal touched an intraday high of Rs 2,45,473, up 0.34 per cent or Rs 837 from the previous close, and a low of Rs 2,43,009, down 0.66 per cent or Rs 1,627.

According to a commodity market expert, precious metals are trading with a cautious bias, with prices largely driven by key technical levels amid ongoing geopolitical uncertainty.

On COMEX, gold is holding above the $4,700–$4,680 support zone, with further downside possible below $4,650, while a sustained move above $4,750–$4,800 could revive momentum towards $4,900, the expert said.

On MCX, gold is hovering near Rs 1,52,500, with resistance seen around Rs 1,54,000 and support at Rs 1,50,000, the expert added.

The analyst also said that silver is also showing a cautious undertone, noting that volatility remains elevated due to geopolitical tensions, keeping the overall outlook range-bound in the near term.

In the international market, both metals were largely flat. On COMEX, gold was trading marginally higher by 0.02 per cent at $4,742 per ounce, while silver was down 0.05 per cent at $76 per ounce.

However, tensions in the Middle East remain elevated, although Iran has reportedly proposed a fresh peace initiative to the US aimed at reopening the Strait of Hormuz and ending the conflict.

Amid global uncertainty, gold and silver have delivered strong returns to investors over the past year. Gold has gained over 40 per cent in dollar terms over the past year and more than 18 per cent in six months.

Meanwhile, silver has more than doubled investors’ money over the past year and gained over 60 per cent in the last six months.

Additionally, Brent crude jumped over 2 per cent to $107.77, while US West Texas Intermediate (WTI) advanced to $96.68, an increase of 2.41 per cent.