Ghatkopar Builder Kamlesh Shah and His Son, Raj Kamlesh Shah booked for Cheating, Frauding, Forgery, Criminal Conspiracy, and Criminal Breach of trust to the tune of Rs. 418.5Cr. FIR registered at Pant Nagar Police Station

Ghatkopar Builder Kamlesh Shah and His Son, Raj Kamlesh Shah booked for Cheating, Frauding, Forgery, Criminal Conspiracy, and Criminal Breach of trust to the tune of Rs. 418.5Cr. FIR registered at Pant Nagar Police Station

File picture of Raj Kamlesh Shah accused no 2 in FIR.(Third party image)

Ghatkopar Builder Kamlesh Shah and his son, Raj Kamlesh Shah booked for cheating, frauding, forgery, criminal conspiracy, and criminal breach of trust to the tune of Rs. 418.5Cr. FIR registered at Pant Nagar Police Station.

Pant Nagar Police Station booked Ghatkopar based Developer, Kamlesh Vrajlal Shah and his son Raj Kamlesh Shah last week for cheating and defrauding his Business Partner by forging his signature and making bogus documents to avail huge loans from banks and to sell jointly owned properties to the tune of Rs. 418.5Cr. This complaint was lodged by Mukesh Mehta, the equal owner of SILVER GROUP.
According to the FIR, Kamlesh Shah and Mukesh Mehta have been equal business partner of various entities such as M/s Silver Land Developers (Company), Prestige Properties, Nest Developers, etc since past 40 years under the brand name of ‘SILVER GROUP’.
The FIR states that Kamlesh Vrajlal Shah and Raj Kamlesh Shah took huge loans of Rs. 140 Crores from Aditya Birla Finance Ltd in the name of Prestige Properties using Mukesh Mehta’s forged signatures and bogus documents.
Similarly, Kamlesh Shah sold jointly owned properties worth Rs. 194 crores from Prestige properties, without Mukesh Mehta’s knowledge and consent and used his forged signatures to effect the sale.
The monies so received from such illegal loans and fraudulent sales have been siphoned off to various third parties in Kamlesh Shah’s social circle for their own personal benefits.
Furthermore, Kamlesh Shah and Raj Shah took a loan of Rs. 45 Crores from J M Financial Ltd in the Company, without Mehta’s knowledge or consent, by preparing illegal and bogus Board resolutions and other false documents.
The money so received have been similarly siphoned off to third parties. Two amongst them, Prarambh Securities Ltd and KK Ventura LLP have been unilaterally lent 25Cr from the entities of Silver Group who then instead of repaying Silver Group, bought my Company’s illegally mortgaged property from J M Financial by forming a SHELL company named Matte Multitrade Pvt Ltd. JM Financial, without following due process of law, sold off entire floor to Matte Multitrade at an undervalued price.
“ It is surprising that the officials of Aditya Birla and JM financial have never contacted me before sanction or before disbursement of such a huge loan amount. I came to know much later about this through public domain and thereafter, immediately filed my complaint in 2018 itself.”
The FIR also states that Kamlesh Shah had appointed his son Raj Kamlesh Shah as the Director of the Company using Forged and fabricated Board resolutions to aid him in this cheating, fraud and conspiracy.
According to the FIR, Kamlesh Shah further cheated Mukesh Mehta by falsifying accounts of Prestige Properties to conceal his personal gain.

Picture of FIR Copy.

The FIR goes on to state that, Kamlesh Shah and Raj Kamlesh Shah prepared false, forged, fabricated, and newly prepared share certificates of Mukesh Mehta and family to show reduced shareholding from 50.2% to 11.2%.
Mukesh Mehta added “Evidences were presented from the public domain of Registrar of Companies (ROC) website substantiating their family holding as 502 shares since 2001 and that were signed by Kamlesh Shah himself for all these years”.
Sr. Inspector of Police of Pant Nagar thus registered a FIR no. 352 of 2021 on Kamlesh Vrajlal Shah and Raj Kamlesh Shah for criminal conspiracy, cheating, forgery, criminal breach of trust and fraud on Mukesh Mehta and family. The duo have illegally and fraudulently taken loans from JM Financial Limited and Aditya Birla Finance Limited to the tune of Rs. 185 Crores, sold off jointly owned properties to the tune of Rs. 233.5 crores approx using Mukesh Mehta’s forged signatures and bogus (fabricated) documents. Not only that, Kamlesh Shah has appointed Raj Shah as the Director of the Company by submitting fabricated documents, and forged and fabricated share certificates to deprive Mehta family of their legitimate rights.
Mukesh Mehta states that “We have time and again received threats from Kamlesh and Raj to withdraw all our complaints, failing which we will face dire consequences. The duo have created a bank fraud/scam to the tune of more than Rs 418.5 crores. Kamlesh and Raj have jointly forged documents to avail illegal loans from Aditya Birla Finance Limited and JM Finance Limited, sold off our jointly owned properties, forged my share certificates etc and siphoned off these monies within his social circles. They tried to arm twist the law by getting third parties to file false complaints against us which have more over been disposed off. Tomorrow, god forbid, if anything happens to my family, Kamlesh and Raj will be solely responsible. We have full trust in the law and judiciary.”
While speaking with Hello India news over phone Mr Suhas Kamble, Sr Police Inspector of Pant Nagar Police Station confirmed “Yes, we have have registered an FIR against Kamlesh Shah and Raj Shah under Sections 420, 406, 465, 467, 468, 470, 471, 34 of IPC and will issue summons to both the Accused. It’s a very high profile case and we appointed special investigation officer and our investigation is ongoing.” As per Police while no arrest has been made they are investigating the matter and are likely to transfer the case to Economics Offence Wing (EOW).

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