In a shocking and heartbreaking development, Laxman Sadhu Shinde, the 55-year-old CEO of Ratnadeep Castings, was found murdered in Bihar after being lured into a cyber fraud scheme disguised as a major business deal. Laxman Shinde, a respected figure in the manufacturing industry in Pune, was allegedly invited to Patna to finalise a mining equipment contract, which turned out to be a trap laid by cybercriminals.
Founded in 2011, Ratnadeep Castings has emerged as a trusted manufacturer of Aluminium Bronze, Phosphorous Bronze, and Leaded Bronze components, widely used in maintenance work, forging presses, OEM machinery, and precision engineering. An ISO 9001:2015 certified enterprise, the company serves key sectors including automotive, power plants, crushing industries, oil & gas, defence, and general engineering. With a vision to be the “stop solution for Cu-based alloys,” Ratnadeep Castings is known for its commitment to quality, timely service, and customer satisfaction.
According to investigators, Laxman Shinde left Pune on April 11th after receiving what appeared to be a promising business inquiry. After landing in Patna, he was abducted near the airport, taken to a remote area in Hilsa (Nalanda district), and tortured by the perpetrators, who extracted money from his bank account. His body was recovered on April 14 in Jehanabad. A joint operation by Patna and Pune police led to the arrest of 11 accused individuals, revealing a larger cybercrime syndicate targeting business owners nationwide.
At Mahatech Expo 2023, Laxman Shinde shared his inspiring journey with Machine Maker, proudly highlighting how Ratnadeep Castings had grown to become one of the few companies in India to manufacture the country’s largest castings using the Central Casting process. “We manufacture all types of copper-based alloy castings—from the smallest to the largest—in our plant. And we are exporting to seven to eight countries from India,” he said proudly. His commitment to Make in India was a mission he lived by—empowering Indian manufacturing with globally competitive solutions.
This tragic incident has rattled India’s MSME and manufacturing communities, raising serious concerns about cybersecurity awareness and due diligence in business transactions. Laxman Shinde was a businessman and a builder of industrial excellence, providing crucial components to India’s core sectors and supporting local employment through his enterprise. As the investigation continues, the industry mourns the loss of a visionary entrepreneur who symbolised the spirit of Indian manufacturing.
