Mangalore City Police Initiate Investigation into Allegations of Fraud and Intimidation Against Company Directors
Mangaluru: The Mangalore City Police have commenced an investigation into serious allegations of fraud and intimidation involving Siddappa Jayakaran and Jayashekar Joy, directors of Shree PLA Pvt. Ltd., based in Bangalore. This development follows a private complaint lodged by Vithesh V. Kotian, a manufacturer of food packaging materials, who claims to have been subjected to fraudulent practices and threats by the accused, alongside two unidentified accomplices.
According to the details outlined in Kotian’s complaint, he entered into business transactions with Shree PLA Pvt. Ltd. during the COVID-19 pandemic, during which the company supplied critical raw materials. However, disputes soon emerged regarding the financial dealings between the parties. In a significant turn of events, the directors initiated a civil suit against Kotian, demanding a sum of Rs 1.65 crore. Kotian contests this claim, asserting that the legitimate dispute pertains to an amount of Rs 1.15 crore.
The situation intensified when the directors obtained a property attachment order in connection with their civil suit. Complications arose as Kotian disclosed that he had previously sold the property in question to a third party, adding layers of complexity to the ongoing legal battle. Furthermore, Kotian alleges that he faced intimidation from the accused six months prior, during which he was reportedly coerced into settling the matter by paying an inflated sum of Rs 2 crore.
In light of these allegations, a formal case has been registered at the Panambur Police Station. Investigators are currently working to verify the claims made by Kotian and gather further evidence. The involved parties are anticipated to cooperate with law enforcement as the inquiry unfolds, with the aim of ensuring a thorough examination of the allegations and the circumstances surrounding this case.
