The Alipore Police Court has issued and executed search warrants, raiding various locations in Kolkata across Ballygunge, Howrah, and Motilal Nehru Road, including the residences promoter Amit Gupta and the directors Vivek Agarwal, Dinesh Agarwal, Vishal Agarwal, Subhash Chandra Khandelwal and Govind Prasad Malpani.
Kolkata Police have been instructed “to seize and take possession of any forged documents, forged stamps & seals, computer-devices” and to ensure that “every part and portion of the aforesaid office of the accused persons is needed to be searched thoroughly”, according to the 18-page document issued by Alipore Police Court.
Gold Rate
3 May 2025
Kolkata Police lodged the FIR on December 22, 2023 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 from Sunland Projects Pvt Ltd.
The case has been filed in the National Company Law Tribunal (NCLT), where court documents reveal that the share transfer, which constituted 33.33% of the total shares of the company, were not signed by the petitioner, was not registered in front of the Public Notary and the gift deed was not uploaded in the Ministry of Corporate Affairs website.
“The 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’.”, according to the Sydney Morning Herald.
Sunland owns real estate across India. It’s vast portfolio includes multiple residential and commercial buildings in Kolkata, including Sunland Residency, which spreads across 54,000 square foot.
Gupta is scrutinized by government agencies, including the Income Tax Department of India, which issued multiple income tax notices against Gupta and his direct family between 22nd March 2022 and 7th July 2022. Being the target of multiple criminal investigations in Australia and India, the complexity of Guptas dealings gain further prominence amidst raids conducted by Kolkata Police in this notable case.
