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DQWeek had earlier reported about how the Mumbai market is going
through tumultuous phase with regard to an increase in payment
defaulters and cheating cases. Exploring these concerns raised by
partners, The DQWeek came across a case of Rajesh Nagji
Nishar, proprietor, Poorav Trading, who duped more than 50 people of
an amount totalling more than Rs 2 crore.
to The DQWeek exclusively, Fort based Paresh Patel of Computer
Center said, “Nishar's standard modus operandi was earlier
unknown to many of us, till we felt victim to his shrewd tactics.
Today, I have to recover Rs 12 lakh from him.” As described by
partners, Nishar usually deals in cash with partners for a couple of
time at first to establish his foundation of fake trust. Following
this, when the amount increases, he issues checks to other channel
partners and also clears it off for a couple of times. This further
strengthens the trust that other partners have on him. Post this, his
purchase values increase against which he issues checks and he will
do the same deal may be twice or thrice. These checks bounce back and
he never repays. Above all, he sells goods in the market at much
cheaper rates. Thus, it has directly affected the trade at
Road and has left the partners in shambles.
of today, the case has been registered at VP Road Police station
under sections 406, 420 and 34, Mumbai, and a non-bailable warrant
has been issued against him and his son Poorav Nishar. However, the
sad part is that he is still going around continuing his antics. As
informed by Patel, he has recently duped a Mulund based trader for
about Rs 5 lakh. Patel said, “Before he got into the IT business,
he was in to steel trading, where he cheated at least 40 to 50
people. But when his sustenance became tough, he ventured into IT
business, where till date he would have screwed at least 30 to 40
people including me.”
conducts his malicious activities through companies like, Poorav
Trading, Manish Collection, PR Trading, and Manish Vasan Bhandar.
Nishar has been in the steel market since 2003, and he got into the
IT trading business in 2008.