Published On : Sun, Mar 31st, 2024

₹200 crore extortion case rocks Nagpur business circles


Nagpur: In a shocking incident, an alleged case of extortion involving a demand for ₹200 crore has sent shockwaves through the business community of Nagpur.

The incident centers around brothers Mahesh and Rajesh Kingrani, accused of demanding the hefty sum from Jaiprakash Khushlani, a director at the city-based JP Group.

According to a prolonged investigation by the Economic Offences Wing (EOW), the Kingrani brothers had made significant investments in various projects of the JP Group since 2019. However, tensions escalated over disputes concerning JP Group’s properties at Bokhara, Gaddigodam, Dus Number Puliya, and an upcoming project at Nandanvan.

Police reports indicate that certain agreements initially treated as ‘security’ and mortgage documents became the focal point of contention. Two years ago, the Kingranis sought the return of their investments, but JP Group insisted on returning the investments with interest only upon the return of the property documents ‘mortgaged’ to them.

Allegedly, the Kingranis refused and demanded a staggering ₹200 crore, threatening to seize JP Group’s properties if their demands were not met.This standoff resulted in a flurry of complaints, counter-complaints, legal notices, and litigation between the two parties. The culmination of the investigation led to the filing of an offense with the Sadar police station against the Kingrani brothers by the EOW.

DCP (EOW) Archit Chandak affirmed that Khushlani, the complainant, was willing to return the Kingrani brothers’ investments with interest, backed by supporting documents. Chandak further stated that notices have been sent to the Kingrani brothers to record their statements, with testimonies of other witnesses soon to follow.

The case underscores the complex dynamics and legal intricacies within the business landscape of Nagpur, with authorities diligently pursuing justice in the wake of the alleged extortion.