Gurgaon: A 24-year-old man was arrested for allegedly cheating more than 20 companies of nearly Rs 3.5 crore by procuring goods on credit, selling them in the market and defaulting on payments through bounced cheques.The accused, identified as Saurabh Goyal, a resident of Sector 5 and proprietor of Pushpanjali Enterprises, was arrested by the Economic Offences Branch II from the area on Friday.According to police, the fraud surfaced after representatives of over 20 companies lodged a complaint at Sector 14 police station on Oct 7, 2025. In the complaint, the firms alleged that Pushpanjali Enterprises and its operators — including Saurabh Goyal, Manish and Virendra Goyal — had dishonestly procured goods worth crores of rupees from multiple suppliers.Investigators said the accused placed bulk orders for products such as spices, cumin, almonds and other commodities, assuring suppliers that payments would be cleared promptly. However, the cheques issued in the company’s name later bounced.Police alleged that after obtaining the goods, the accused sold them in the market, collected cash payments and then shut down their offices, switched off their mobile phones and absconded without clearing dues.“During interrogation, Saurabh Goyal admitted that he, along with his associates, procured goods from multiple firms through Pushpanjali Enterprises and cheated the companies by deliberately issuing bounced cheques,” a police officer said.Police estimate the fraud amount at around Rs 3.5 crore, though investigators said the exact amount and details of related transactions are still being verified.Goyal was produced before a local court on Saturday, which remanded him to five days in police custody. Police said efforts are underway to trace and arrest the remaining accused in the case.
