EOW registers case against Swarup Group Chief for cheating

MUMBAI: A case has been registered by the Economic Offences Wing (EOW) of the city police against industrialist Guru Swarup Srivastav for cheating another businessman to a tune of Rs two crore.

Srivastav, Chairman and Managing Director of the Swarup Group, shot to limelight in 2005 after commissioning painter M F Hussain for 100 paintings at Rs 101 crore.

According to the complaint, Srivastav had misused funds given to him by the National Agricultural Co-operative Marketing Federation of India (NAFED) and purchased a 1700-square metre land at Marol in suburban Andheri last year.

The CBI had then lodged a complaint with the EOW in this regard and restricted Srivastav from selling or developing the property. However, Srivastav got into an agreement with Gupta between February and September this year and sold the property amounting Rs two crore to him.

Following this, the EOW lodged a case of cheating and fraud yesterday against Srivastav and his son Mehar Srivastav.