3 weeks ago
Traders File Counter-Complaint in ₹19.76-Crore Warehouse Fraud Case
A warehouse is a big building where farmers and traders keep their crops safe.
Some traders kept bags of grain in a warehouse in a town called Sendhwa in India.
They borrowed money from a bank and promised the grain would stay there as a guarantee.
One day, people found that lots of the grain was gone, about 19.76 crore rupees' worth, which is a huge amount of money.
The police came and opened the warehouse, but instead of grain they found mostly husk, which is the leftover shell of seeds.
The warehouse company said the traders secretly took the grain and replaced it with husk and soil.
But the traders said no, we didn't do it, and blamed the warehouse company.
They said the company was in charge of the locks, the keys, and keeping the goods safe.
Now both the traders and the company are making complaints against each other.
The police are investigating to find out who is really responsible for the missing grain.
Traders Kailash, Nilesh and Piyush Khandelwal filed a counter-complaint against Star Agri Warehousing Company in the ₹19.76-crore fraud case.
The traders deny taking bank loans against pledged agricultural goods and replacing them with husk and soil.
They say the company was solely responsible for security, lock and key, and issuing bank receipts at the Baniyahar warehouse.
A July 24 police-supervised inspection found only husk, soybean remnants and cotton bales against nearly 95,045 recorded bags of pledged stock.
The traders allege the company's MD, CEO, manager and staff committed theft and fraud, and previously faced a CBI case over an alleged ₹74.77 crore mustard oil scam.
- Who
- Traders Kailash Khandelwal, Nilesh Khandelwal and Piyush Khandelwal, and Star Agri Warehousing Company
- What
- A counter-complaint in a ₹19.76-crore fraud case over missing pledged agricultural produce at Baniyahar warehouses
- Where
- Sendhwa, Barwani district, Madhya Pradesh
- When
- Counter-complaint filed on Thursday night; warehouse inspection held on July 24
- Why
- The traders deny allegations of fraud and hold the warehousing company responsible for the security and custody of the stored goods
Traders' Account
Warehousing Company's Account
Who Caused the Missing Stock
Traders' Account
Traders say Star Agri was solely responsible for security, lock and key, and bank receipts, so the company must be held accountable for the missing stock.
Warehousing Company's Account
The company's FIR alleges pledged produce was systematically sold off using fake government seals and forged documents.
Allegations Against Each Other
Traders' Account
Traders accuse the company's MD, CEO, manager and staff of theft, embezzlement, fraud, threats, and misleading the bank, citing a prior CBI case over an alleged ₹74.77 crore mustard oil scam.
Warehousing Company's Account
The company accuses the traders of taking bank loans against pledged goods, secretly removing them, and replacing them with husk and soil.
Key facts
- Fraud Amount
- ₹19.76 crore
- Location
- Sendhwa, Barwani district, Madhya Pradesh
- Warehousing Firm
- Star Agri Warehousing and Collateral Management Limited
- Inspection Date
- July 24
- Recorded Pledged Stock
- Nearly 95,045 bags
- Named Suspects
- Chetna Khandelwal, Nilesh Khandelwal, Kailash Khandelwal, Piyush Khandelwal, Devraj Rathore
- Charges (BNS)
- Sections 316(4), 318(4), 61(2), 3(5)
- Earlier CBI Case Allegation
- ₹74.77 crore mustard oil scam
Sources
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