The accused — Samir Abdul Hussain Lalani, his wife Heena Lalani, son Alishan Lalani, and associate Prakash Bhosale — are now absconding, according to police
Nagpur: In a shocking case of corporate fraud, Kamal Agarwal, a key promoter of the globally renowned food and sweets brand Haldiram, has been allegedly cheated of Rs 9.38 crore by a family that promised him 76% shares in a dry fruit company.
The accused — Samir Abdul Hussain Lalani, his wife Heena Lalani, son Alishan Lalani, and associate Prakash Bhosale — are now absconding, according to the Kalamna Police.
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The incident came to light shortly after the high-profile merger of two Haldiram companies, one based in Nagpur and the other in New Delhi. The newly merged entity was recently valued at a staggering Rs 84,000 crore. Amid this corporate restructuring, Kamal Agarwal, through Haldiram Group’s subsidiary Om Industries Limited, invested in Royal Dryfruit Private Limited — a company owned by the Lalani family.
The accused had allegedly promised to transfer 76% of the company’s shares to Agarwal in return for the investment. They engaged him in discussions, citing various reasons for the delay, and even signed a revised agreement with Haldiram. By September 2023, Agarwal had already invested Rs 9.38 crore into the venture — but received neither the promised shares nor any returns.
Suspicions arose when the shares remained undelivered and the promised profits never materialized. Upon internal investigation, Haldiram officials discovered that the accused had grossly inflated the company’s financials using forged documents — including exaggerated figures of annual turnover and profits — to lure in investment.
Following this discovery, Kamal Agarwal lodged a police complaint. Subsequent investigations revealed that several government agencies had already launched financial probes against the accused. Police also found that others may have been similarly defrauded under the guise of investment opportunities.
Experts suggest that this case reflects a growing trend in which fraudsters create bogus companies and inflate financial data to trap investors. The Kalamna police have registered a case of fraud and launched a manhunt for the accused, who remain on the run.
Investigations are ongoing.
