Archive · 20 Nov 2025
Provogue India Ltd. Loses Rs 90 Crore in Alleged Fraud
Provogue India Ltd, a company that makes clothes and accessories, lost Rs 90 crore because some people, including a former director and an ex-employee, allegedly cheated the company.
They are accused of making the company's assets seem less valuable, delaying a sale, and not collecting money that was owed to the company.
The former managing director of Provogue India Ltd filed a complaint, and the police are investigating.
Mumbai police book four in Rs 90 crore Provogue India fraud case
Accused include former director, ex-employee, and others
Allegations of undervaluing assets, delaying auction, and withholding receivables
Former MD Nikhil Chaturvedi lodges complaint
Offence committed between 2018 and 2023
- Who
- Rakesh Rawat (former director), Sameer Khandelwal (former employee), Amit Gupta (resolution professional), Arpit Khandelwal (new purchaser), Plutus Investments and Holding Ltd, and others
- What
- Allegedly cheated Provogue India Ltd of Rs 90 crore
- When
- Between 2018 and 2023
- Where
- Mumbai, India
- Why
- To undervalue assets, delay auction, and withhold receivables for personal gain
Provogue India Ltd's Perspective
Accused's Perspective
Asset Valuation
Provogue India Ltd's Perspective
Accused undervalued company assets
Accused's Perspective
Accused maintain they acted in good faith
Auction Delay
Provogue India Ltd's Perspective
Accused deliberately delayed auction process
Accused's Perspective
Accused claim delay was due to legitimate reasons
Receivable Collection
Provogue India Ltd's Perspective
Accused did not collect receivable amounts for personal gain
Accused's Perspective
Accused maintain they acted in the company's best interest
- Company
- Provogue India Ltd
- Products
- Men's and women's apparel, accessories, luggage
- Alleged Loss
- Rs 90 crore
- Complaint Filed By
- Nikhil Chaturvedi (former MD)
- Charges
- Cheating, criminal breach of trust, criminal conspiracy
Sources
Mumbai police book four in Rs 90 crore Provogue India fraud case - Telegraph India
Accessories Firm Provogue India Duped Of Rs 90 Crore, Ex-Director Charged
Mumbai-based Provogue India duped of ₹90 crore; ex-director among four booked
