The Powai police on Monday arrested a 43-year-old octroi agent, who shared a business relationship with Colgate Palmolive India Ltd for the past eight years, for allegedly misappropriating an amount of Rs 63.9 lakh that the company had mistakenly transferred to his account.

According to the police, the accused Arjun Kataria’s company, M/S Ajmera Octroi Services in Mulund, has been providing its service to Colgate since 2000.

“Kataria was responsible for making the octroi payments on behalf of Colgate and he would get 0.75 per cent of the amount as his commission after producing the relevant documents. Earlier the payments were made in cash. But from July 2008 onwards Colgate started making payments using the National Electronic Fund Transfer (NEFT) facility. As per the system, Kataria’s payments would be credited to his account in a bank at Mulund. Unfortunately, a minor error while using the electronic transfer cost Colgate over Rs 63 lakh,” said senior police inspector Rajdoot Rupawate of Powai police station.

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