Kolkata police lodge FIR against Amit Gupta of Agrifields for fraud, forgery in 700 crore case (Real Estate - Home Loan & Refinance)
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Kolkata police lodge FIR against Amit Gupta of Agrifields for fraud, forgery in 700 crore case | |
Amit Gupta, the promoter of Agrifields DMCC, which previously operated as Getax, is under fire again, this time, for allegedly conducting a "fraudulent share transfer" of 1,510,000 shares as well as "forging and manipulating the records" and also having "illegally struck of a Rs 9,95,64,143 loan" of Sunland Projects Pvt Ltd, conspiring against his brother, Ashok Gupta, as per an FIR lodged by Kolkata Police on the 22nd of December, 2023. The case has been filed in the National Company Law Tribunal "NCLT", which the Alipore Court in Kolkata heard in court 6th November, 2023, and ordered the respondents to submit their response by the 4th December, 2023, which neither Amit Gupta or Sunland Projects did, leading to the FIR. Sunland owns real estate across Kolkata as well as across India, and has equity positions in other businesses. One of its projects, Sunland Residency in Rajharat, Kolkata, spreads over 54,000 square feet (1.24 acres). The company's assets exceed 700 crore rupees, as per submissions. As per court documents, the share transfer, which amounts to approximately 33.33% of the company, was not signed by the petitioner, was not registered in front of the Public Notary and the gift deed was not uploaded in the Ministry of Corporate Affairs website, three procedural misconducts. The shares were transferred to Amit's father G.S. Gupta, and Amit, in 2018, became the ultimate beneficial owner of those shares. This isn't the first time the promoter of Agrifields DMCC, and Getax, was in the public light. As per Sydney Morning Herald, “The US documents name Getax director Amit Gupta as the ‘target of a criminal investigation who is alleged to have conspired with others to bribe foreign public officials and to have engaged in money laundering and other offences’.” Recently uncovered, Amit Gupta, his father G.S Gupta, mother Sushila Gupta and family received multiple income tax notices exceeding 1700 crore, dated between 22nd March 2022 and 7th July 2022 with the probe unveiling the non-filing of income tax returns by multiple members of the family, coupled with discrepancies unearthed in the source of funds, under the anti-money laundering and corruption act. Gupta's legal matters underscores the collaborative efforts of global authorities to ensure accountability for cross-border financial misconduct. The ongoing Income Tax investigation in India, complemented by the FIR filing, illuminates the intricate nature of Gupta's financial dealings, contributing a heightened layer of complexity to the evolving narrative.  | |
| Target State: All States Target City : All Cities Last Update : Jan 30, 2024 8:59 AM Number of Views: 161 | Item Owner : SAchin Contact Email: (None) Contact Phone: (None) |
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2024-11-18 (0.398 sec)