Nagpur Hardware Firm Owner Accused of Rs 3 Crore Steel Trade Scam

A hardware firm owner in Nagpur, identified as Murtuja Yusuf Shakir, allegedly defrauded a steel trader, Sunil Muralidhar Tulsyan, of nearly Rs 3 crore. Shakir purportedly issued a cheque that bounced and stalled payment. Police have registered a complaint and further investigations are ongoing.

A Nagpur hardware firm owner is under scrutiny after allegedly defrauding a local steel trader out of nearly Rs 3 crore. Police revealed the details of the case on Saturday.

According to authorities, the trader, Sunil Muralidhar Tulsyan, supplied steel coils to Murtuja Yusuf Shakir's trading company between December 2023 and May 2024. The transactions totaled Rs 2,97,74,740.

Trouble arose when Shakir paid with a cheque that subsequently bounced, leading to repeated payment delays. This prompted Tulsyan to involve the Lakadganj police, who have now registered a case. An ongoing investigation aims to bring more clarity to the fraudulent activities.

(With inputs from agencies.)