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Former employee of private firm arrested for illegally selling its registered research reports

The firm suffered major losses in 2018 and found that their registered research papers are being illegally sold in the market at as low as ten per cent of the cost by a firm named as “Sterling Market Research”.

By: Express News Service | Pune |
October 28, 2021 4:25:40 am
pune news, pune latest newsGaikwad was allegedly selling research documents belonging to “M/S Melvin Bright” to other companies across different countries also.

A former employee of a private market research and consultancy company has been arrested for allegedly stealing and selling its registered research reports.

The accused has been identified as Manesh Krushnaji Gaikwad. The complainant in this case is the owner of “M/S Melvin Bright” company, which has been doing market research and business consultancy in various countries since 2015, stated a press release issued by the police.

The firm suffered major losses in 2018 and found that their registered research papers are being illegally sold in the market at as low as ten per cent of the cost by a firm named as “Sterling Market Research”.

The company discovered that “Sterling Market Research” was registered in the name of Gaikwad’s wife. Gaikwad was allegedly selling research documents belonging to “M/S Melvin Bright” to other companies across different countries also. Gaikwad was provided a residence at the company premises when he committed the theft of these registered research reports, police said.

When he was caught, he allegedly returned all data and also tendered an apology. But then he allegedly formed three more companies through which he again sold the complainant’s research reports illegally and earned Rs 52.4 lakh.

The complainant the approached the Cyber Police Station of Pune City Police and lodged an FIR against Gaikwad. A police team headed by Inspector D S Hake arrested Gaikwad from Bhosari on October 25 and booked him under sections 406 (criminal breach of trust), 408 (criminal breach of trust by clerk or servant), 420 (cheating and dishonestly inducing delivery of property) and 34 (common intention) of the Indian Penal Code and sections of the Information Technology Act.

A court has remanded Gaikwad to police custody till October 28 for further probe.

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