In a significant financial fraud case, Tata International Limited has reported an alleged ₹14.85 crore scam linked to an edible oil import deal involving a Pune-based firm. The complaint has led to a criminal investigation by Mumbai Police, with an FIR registered at Wadala TT Police Station and the probe currently handled by the Economic Offences Wing (EOW).
The case relates to a business arrangement between Tata International and Atos Agro Merchant Pvt Ltd, which had been engaged in edible oil trading since 2022. As per the agreement, Tata International financed up to 90% of the invoice value for import deals while holding 10% as security. In June 2023, the firm agreed to supply 2,000 metric tonnes of crude degummed soybean oil valued at around ₹16.5 crore.
Based on this agreement, Tata International transferred ₹14.85 crore via RTGS. However, investigators claim the consignment was never delivered, and the funds were allegedly diverted. Authorities suspect cheating and criminal breach of trust. Police also revealed that transactions between the two entities between 2022 and 2024 amounted to nearly ₹350 crore and they are now reviewing whether similar irregularities occurred in other deals.
The complaint names the company and its director, Santosh Kumar Vasudev Murthy Gowda, as key accused. The EOW is currently examining financial records, bank transactions, invoices, agreements and fund flow patterns. Officials are also trying to determine if the case is an isolated incident or part of a larger fraud scheme. The development highlights risks in trade financing, especially in import deals where advance payments and documentation can be misused if proper checks are not followed.
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