The vada pav shop lures the entrepreneur.

Kiran Shivaji Parmale (45) and Akash alias Satish Prakash Rokade (41) arrested for defrauding a businessman . Pair promised to open a well-known vada pav-tea franchise .

Pune: Kiran Shivaji Parmale (45) of Mundhwa and Akash alias Satish Prakash Rokade (41) of Wadgaonsheri were arrested on Friday for defrauding a Kalyaninagar businessman (56) of Rs89 lakh between May 2017 and September 2018 by promising to open a well-known vada pav-tea franchise, according to the police.According to police, Parmale is a businessman and Rokade is a gym instructor who knows the victim.The two met in the gym and had a consultation with him in Mundhwa in 2017, according to police.The businessman, who specializes in fire-fighting equipment and water-treatment products, was urged to invest in the franchise, according to the police.

The businessman went to the police and was arrested.According to the police, the gym instructor gained the victim's confidence and introduced him to his accomplice.After discussing their franchise strategy, they asked the businessman to invest and drafted a fake and fabricated agreement for the investment proposal.