Surat Businessman Alleges Rs 6.75 Crore Fraud in Amusement Park Investment Deal
A 72-year-old businessman from Surat has filed a police complaint alleging he was defrauded of a staggering Rs 6.75 crore by a mother-son duo who promised him a significant equity stake in their amusement company but later provided forged documentation. The Vesu police station has registered a First Information Report (FIR) for cheating, forgery, and criminal conspiracy under the Bharatiya Nyaya Sanhita, with the Economic Offences Cell of the Surat police taking charge of the investigation.
Decade-Long Friendship and Trust Exploited
According to the detailed complaint, the victim, Sadanand Mandhyan, a resident of Vesu who owns an animal feed manufacturing firm in Bengaluru, was approached by the accused individuals: Nisha Mahendu and her son Rajat Mahendu. The duo claimed to operate an amusement venture named 'Woop' and were actively developing a family entertainment centre project in Bengaluru. Police reports indicate that Nisha had initially befriended Mandhyan's wife approximately ten years ago, establishing a long-term relationship that ultimately helped the accused gain the family's complete trust.
The Investment Proposal and Financial Transactions
In July 2024, the accused visited Mandhyan's residence and urgently sought financial assistance, claiming their project was nearing completion but facing a severe financial crunch. They allegedly offered Mandhyan an attractive 25% equity stake in Woop Amusement Private Limited and assured him he could invest as an unsecured loan after the formal allotment of shares. Trusting their proposal based on the longstanding friendship, Mandhyan proceeded to transfer a total of Rs 6.75 crore to the accused between August 2024 and May 2025 through multiple transactions.
Forged Documents and False Promises
In April 2025, the accused sent Mandhyan several official-looking documents, including a purported board resolution allotting 25,000 shares and an SH-4 form for share transfer. Based on these documents, Mandhyan genuinely believed he had become a legitimate shareholder in the company. However, in a suspicious turn of events in September 2025, the accused unilaterally reduced his shareholding to 18,000 shares, citing increased project costs. When Mandhyan objected to this sudden revision, they maintained it was absolutely necessary for the project's completion.
Suspicions Arise and Investigation Begins
Mandhyan's suspicions grew significantly when the accused consistently failed to provide any financial returns and repeatedly refused to share detailed expenditure reports for the project despite his numerous requests. In November 2025, his chartered accountant formally sought a 9% return on the investment, which the accused allegedly did not pay. The situation escalated ahead of a shareholders' meeting scheduled for February 13, 2026. Mandhyan planned to attend but was informed just one day prior that he was ineligible to participate because he had not submitted the required SH-4 form.
Verification Reveals Forgery
Subsequent verification with the Registrar of Companies (RoC) revealed shocking details: no official process had been followed to register Mandhyan as a shareholder, and all the documents provided to him were completely forged. Based on this conclusive evidence, Mandhyan filed a formal complaint with the police, leading to the registration of the FIR. The Economic Offences Cell is now thoroughly investigating the matter to uncover the full extent of the alleged fraud and bring the perpetrators to justice.
