Amit Gupta of Agrifields, Directors’ Offices Raided in 700 Crore Fraud and Forgery Case

In a significant escalation of the investigation into a 700 crore fraud and forgery case, Kolkata’s Alipore Police Court has authorized raids on multiple locations linked to the accused. These searches targeted the residence of Amit Gupta, promoter of Agrifields, in Ballygunge, as well as the offices of the company’s directors—Vivek Agarwal, Dinesh Agarwal, Vishal Agarwal, Subhash Chandra Khandelwal, and Govind Prasad Malpani.
As part of the investigation, the court issued detailed instructions for the Kolkata Police to “seize and take possession of any forged documents, forged stamps & seals, computerdevices,” and to ensure that “every part and portion of the aforesaid office of the accused persons is needed to be searched thoroughly.” These directives were outlined in an 18-page document, highlighting the seriousness of the ongoing probe.

At the heart of the investigation is a fraudulent share transfer involving 33.33% of Agrifields’ total shares. Court records from the Alipore case reveal that the share transfer was conducted without the required signatures from the petitioner, lacked Public Notary registration, and the associated gift deed was not uploaded to the Ministry of Corporate Affairs website. Consequently, the case has now been referred to the National Company Law Tribunal (NCLT) for further proceedings.
On December 22, 2023, Kolkata Police lodged an FIR at Rabindra Sarobar Police Station, accusing Amit Gupta 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 owed by Sunland
Projects Pvt Ltd. 
Adding an international dimension to the investigation, *The Sydney Morning Herald* reported that “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 Projects Pvt Ltd, a major entity in the case, is involved in the development and ownership of prime real estate across India, including the prestigious Sunland Residency project in Rajharat, spanning 54,000 square feet.
Gupta’s growing legal troubles extend beyond India. He has become the subject of criminal investigations in both India and Australia, with mounting concerns over the complexity of his business dealings. Kolkata Police’s raids, along with increased scrutiny from various government agencies, further underline the gravity of the situation. In addition to this, the Income Tax Department of India issued several tax notices to Gupta and his family members between March 22, 2022, and July 7, 2022, intensifying the legal pressures surrounding him.

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