Thane: The Thane police have registered a case against nine persons, including the owner of a financial consultant firm, for allegedly cheating people of Rs 1.74 crore under the pretext of helping them get loans, an official said on Monday.

A 40-year-old builder, resident of Kamothe in neighbouring Navi Mumbai township of Maharashtra, in his police complaint alleged that the accused offered to help get a loan of Rs 4 crore sanctioned for his profession, and took Rs 24.41 lakh from him as the processing fee.

In a similar manner, the accused also took money from various other persons and did not return it, the official from Naupada police station said without specifying the number of victims. The loan-seekers were collectively duped of Rs 1.74 crore, he said.

Based on the complaint, the Naupada police here registered an FIR on Saturday against the financial consultant firm owner, a bank manager and seven others under Bharatiya Nyaya Sanhita sections 316(2) (criminal breach of trust), 318(4) (cheating) and 3(5) (criminal act done by several persons in furtherance of the common intention of all), the official said.