The MIDC police have registered an FIR against Yatin Potdar for allegedly falsifying accounts. MBMG Diamonds Private Limited reported that an employee had allegedly made incorrect entries and embezzled Rs.5.38 crore. The police registered the case on January 30.
According to the FIR, MBMG Diamonds Private Limited, a company located in MIDC, Andheri West, produces diamond jewellery. The company has a gold issue department, which receives gold from bank loans and other departments within the company. The department also handles casting, melting, and polishing, issues gold bars to vendors, and receives gold jewellery after processing.
At the end of each month, the company conducts a stock check of its gold inventory. On March 31, 2024, discrepancies were found between the recorded gold stock and the actual gold stock. The company initiated an audit that lasted until June 2024. During the audit, it was discovered that while the computer records showed a gold stock of 1,23,551.83 grams, the actual stock was only 1,16,092.06 grams. Additionally, differences were found in the entries for pure gold stock.
During an internal inquiry, the company found that their employee, Yatin Potdar, had deliberately made incorrect entries in the computer system, tampered with vouchers, altered records and embezzled Rs.5.38 crore.
Following this discovery, the company’s manager, Indrajit Chahal (69), filed a complaint against Potdar. The police have registered the case against him under Sections 316(4) (criminal breach of trust) and 344 (falsifying accounts) of the Bharatiya Nyay Sanhita.
