A 41-year-old woman from Kandivali has lodged a complaint against Sunny Rajesh Panchal, who allegedly cheated her out of Rs43.5 lakh under the pretense of investing in a lucrative used car resale business.
The victim, Sheetal Jatin Panchal of Charkop, was approached by Sunny in November 2023. He pitched a business proposal centered on reselling pre-owned vehicles from Borivali and promised substantial returns on investment.
Over time, Sheetal invested Rs43.5 lakh based on repeated assurances. However, Sunny failed to return any of the money. To maintain the illusion of credibility, he allegedly issued cheques totaling Rs57.45 lakh — all of which bounced due to insufficient funds.
Further deepening the deceit, he is accused of drafting a fake Memorandum of Understanding (MoU) promising repayment, but no amount was ever returned. When Sheetal demanded her money back, Sunny allegedly resorted to threats and verbal abuse.
Following the harassment and financial loss, Sheetal filed a complaint with Borivali Police. An FIR has been registered under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, along with relevant sections of the Bharatiya Nyaya Sanhita (BNS).
The investigation into the case is ongoing.
