13 hours ago
Kutch businessman loses Rs 3cr in imported machines deal
Rajkot: A deal with an acquaintance to import a special machine used in urea production led to an expensive setback for a businessman from Gandhidham town of Kutch after he lost nearly Rs three crore.
Pranav Agrawal lodged a complaint against Ramratan Agrawal, a resident of Hyderabad's Banjara Hills of defrauding him of Rs 2.93 crore, part of a larger Rs 7.5 crore deal involving the procurement of 23 Diesel Exhaust Fluid (DEF) machines from Egypt.
The two had first met at a family function in 2015, and in early 2024, their professional engagement began. During a meeting in Hyderabad, Ramratan claimed he could arrange DEF machines from abroad.
Trusting him, Pranav transferred Rs 7.5 crore to Ramratan's company account between Jan 11 and Feb 12, 2024.
However, only Rs 4.56 crore was returned between March 2024 and May 2025, with Ramratan assuring that the remaining amount would be cleared by delivery of eight machines. Despite repeated promises, neither the machines were delivered nor was the balance refunded.
Pranav filed a complaint with the Gandhidham City 'A' Division Police Station
