The Alipore Police Court issued and executed search warrants, raiding various locations in Kolkata including the residences promoter Amit Gupta in Ballygunge and the directors Vivek Agarwal, Dinesh Agarwal, Vishal Agarwal, Subhash Chandra Khandelwal and Govind Prasad Malpani.
They have authorized the police “to seize and take possession of any forged documents, forged stamps & seals, computer-devices” and had instructed m the Police to ensure that “every part and portion of the aforesaid office of the accused persons is needed to be searched thoroughly”, according to the 18-page document issued by Alipore Police Court.
The share transfer, which constituted 33.33% of the total shares of the company, were 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, as per Court documents, from the case lodged at Alipore Court. The case has been filed in the National Company Law Tribunal (NCLT).
Kolkata Police lodged the FIR on December 22, 2023, at Rabindra Sarobar Police Station, accusing Amit Gupta of Agrifields of “fraudulent share transfer” of 1,510,000 shares, “forging and manipulating records,” and “illegally striking off” a loan of Rs 9,95,64,143 from Sunland Projects Pvt Ltd.
According to the 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’.”
Sunland owns real estate across India, including the prestigious Sunland Residency project in Rajharat, which spreads across 54,000 square feet.
The target of multiple criminal investigations in Australia and India, the complexity of Guptas dealings gain further prominence amidst raids conducted by Kolkata Police and and scrutiny by government agencies against Gupta, including the Income Tax Department of India, which issued multiple income tax notices against Gupta and his direct family between 22nd March 2022 and 7th July 2022.
