Archive · 18 Jun 2025
Mumbai Police Investigates Multi-Crore Fraud Cases
Two separate fraud cases have emerged in Mumbai.
In the first, two individuals are accused of forging signatures to obtain loans, resulting in a ₹72.98 crore loss for Bharat Shah.
They allegedly retired him to avoid liability.
In the second case, three directors allegedly defrauded a 73-year-old investor of ₹26.54 crore, promising flats that were never delivered.
Both cases are under investigation by the Mumbai police, with FIRs filed for cheating and forgery.
Two individuals are accused of defrauding Bharat Shah of ₹72.98 crore through forged loan deals.
The accused allegedly forged Bharat Shah's signature to obtain loans from India Capital Finance Ltd and Yes Bank.
Bharat Shah was forcibly retired from the firm to avoid liability, and his share was withheld.
Three directors of Shamik Enterprises are accused of defrauding a 73-year-old of ₹26.54 crore.
The fraud involved unfulfilled promises of residential flats in the Hirani Villa project.
- Who
- Ramesh Shah, Rahul Shah, Haresh Sakalchand Hirani, Suresh Pratapchand Hirani, Sandip Sakalchand Hirani, and others.
- What
- Multiple financial fraud cases.
- When
- The frauds occurred between 2011 and 2018 and more recently.
- Where
- Mumbai.
- Why
- To obtain fraudulent loans and investments.
Victims' Claims
Accused Response
Fraud Allegations
Victims' Claims
Victims allege they were defrauded through forged signatures and unfulfilled promises.
Accused Response
The accused have not yet offered their views, as investigations are ongoing.
- Fraud Amount (Shah Case)
- ₹72.98 crore
- Accused (Shah Case)
- Ramesh Shah and Rahul Shah
- Fraud Amount (Real Estate Case)
- ₹26.54 crore
- Victim Age
- 73 years
- Real Estate Project
- Hirani Villa
- Accused (Real Estate Case)
- Haresh Hirani, Suresh Hirani, Sandip Hirani
- Police Station (Shah case)
- N M Joshi
- Police Station (Real Estate Case)
- Vile Parle
