Look-out circulars have been issued against four members of the Gajera family in Surat, Gujarat, in connection with an alleged Rs 1,928.39 crore fraud. The circulars target Vasant, Chuni, Ashok, and Bakul Gajera, along with their nephew Rakesh Gajera and two associates, as they could not be located at their residences and business sites.
Assistant Commissioner of Police (EOW), G A Sarvaiya, informed that the accused individuals were unreachable, with their mobile phones switched off, leading to the issuance of lookout notices to prevent any potential escape attempts. No arrests have been made yet, and investigations are ongoing to explore all possible connections.
The fraud case was initiated following a complaint by businessman Pravin Agrawal, alleging a scam of Rs 1,928.39 crore related to Shanti Residency Private Limited and the development and sale of units in textile market complexes in Surat. Agrawal claimed a significant reduction in his family’s shareholding through fraudulent means and unauthorized alterations in company records.
