Luxury car dealer booked for duping Andheri bizman ₹78.64 lakh

A luxury car dealer was booked for allegedly cheating a businessman of ₹78.64 lakh by failing to deliver on a partnership deal.

MUMBAI: The Bandra police on Friday booked a 44-year-old luxury car dealer for allegedly cheating an Andheri-based businessman of ₹78.64 lakh by luring him into a partnership in the business of buying and selling imported second-hand luxury cars. The complainant, Kalam Binani, 66, alleged that the accused, Mohammed Ali Furniturewala, continued to default and delay his payments under various pretexts, ultimately cheating him of the entire amount.

Luxury car dealer booked for duping Andheri bizman ₹78.64 lakh

Binani, who runs a cloth import business, told the police that he met Furniturewala through his nephew in 2016. According to the police complaint, Furniturewala introduced himself as a major dealer in imported luxury cars and offered Binani a partnership, promising him a 50% share in the profits if he invested in the venture.

When Binani said he had no experience in the used-car business, the accused allegedly assured him an additional return of 1% per month on the invested amount, apart from the profit share. Furniturewala then asked him to pay ₹1 lakh in cash as an initial amount, the complaint said.

Binani told the police that between 2016 and 2019, he paid a total of ₹78.64 lakh to Furniturewala through online transfers and cheques. As agreed, the accused regularly transferred the 1% monthly returns to Binani’s bank account. However, whenever Binani asked about his share of the profits, Furniturewala allegedly kept delaying the payment, claiming he would calculate the amount and settle it soon.

When Binani followed up in February 2017, Furniturewala allegedly gave him an old BMW car, which he claimed was worth ₹47 lakh, along with a letterhead describing the vehicle. A week later, however, the accused allegedly took the car back, saying he had found a buyer and would repay Binani’s investment and profit share from the sale proceeds. As security, he gave Binani a blank cheque.

Later, when Binani asked about his money, Furniturewala allegedly told him the BMW deal had fallen through and that he was searching for another buyer. The complainant added that the accused later brought a second-hand Toyota Venturi Majestic to his office, claiming he had purchased it for ₹20 lakh, and asked Binani to keep it as security. However, he again took back the vehicle, claiming a customer was interested in the car.

In March 2019, when Binani visited the accused’s office along with his nephew, Furniturewala allegedly admitted that he owed him ₹78.64 lakh, including the promised returns and profit share. He asked Binani to deposit the cheque he had issued after filling in the due amount. However, when the cheque was deposited on April 8, 2019, it was rejected due to a signature mismatch.

“Based on the application, we have registered an FIR and are presently verifying the transactions between the complainant and the accused person,” said a police officer from Bandra police station.