Private firm Provogue India defrauded of Rs 90 crore; former director among four booked

The accused persons were identified as former director of the company Rakesh Rawat, its former employee Sameer Khandelwal, resolution professional Amit Gupta, new purchaser Arpit Khandelwal, Plutus Investments and Holding Ltd and others, an official said on Wednesday. The accused conspired and allegedly undervalued the company's assets and deliberately delayed the auction process by two years to bring down its market value so that Khandelwal could purchase the company, an official said.