Mumbai: In a major alleged financial fraud, the Mumbai Police Economic Offences Wing (EOW) has registered an FIR after a detailed forensic audit exposed massive irregularities, fake transactions and diversion of funds amounting to ₹85.19 crore in Goregaon-based BPC Technology India Pvt. Ltd.
Complaint Filed by Additional Director
The complaint was filed by Deepak Gulshan Grover (31), a New Delhi resident and Additional Director of BPC Technology India Pvt. Ltd. since March 16, 2024.
The company, registered under ROC Mumbai since 2016 (CIN: U72900MH2016FTC287647), operates an online agricultural trading platform under the brand Safal Fasal, procuring farm produce from farmers and supplying it to corporates and traders.
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Forensic Audit Exposes Fake Purchases and Sales
A forensic audit by Corp Acumen Advisors LLP, Gurugram, revealed that former directors Devashree Dutta, Naren Nautiyal, and National Roles Head Kundan Kumar allegedly created fictitious purchase and sale records between 2019 and 2023.
Fake purchases were shown from firms such as Maa Pitambara Agri Products Pvt. Ltd., R.R. Foods LLP, R.K. Agro Industries, and S.G. Agro India Industries many of which were later found to be non-existent or had cancelled GST registrations.
No Transport or Storage Records Found
Despite showing purchases on paper, no e-way bills, transport documents, storage records or delivery receipts were found in the company’s accounts.
Mumbai had no warehouse facility, yet records falsely indicated goods arriving from Madhya Pradesh and being transported to Delhi.
Over 85% of total sales were shown to be made to Om Shri Shubhlabh Agritech Pvt. Ltd., whose directors Girish Bansal, Ketan Bansal, and CFO Nutankumar Kirtinarayan Chaudhary allegedly colluded to create bogus sales entries
Misuse of Overseas Investments and Bank Facilities
The company received: ₹3.67 crore loan from its Singapore associate, ₹6.43 crore drawn from a sanctioned ₹70 crore overdraft from a private bank, ₹41.6 lakh from BPC Banking Technology (Singapore), ₹76.71 crore from BPC AG, Switzerland, Capital infusion from BPC Group Holding (Cyprus) and BPC Transport BV (Netherlands).
Audit findings indicate these funds were misused through fabricated purchase and sale transactions, causing heavy financial losses.
Audit Firms Accused of Ignoring Red Flags
Statutory and GST audit firms Sudit K. Parekh & Co. (Mumbai) and LTC & Co. (Pune), which handled audits between 2019–2022, allegedly failed to highlight glaring discrepancies and may have ignored warning signs.
EOW Books Former Directors and Associates
Following Grover’s complaint, EOW registered a case at Vanrai Police Station against:
Former directors Devashree Dutta and Naren Nautiyal,
National Roles Head Kundan Kumar,
Directors of Om Shri Shubhlabh Agritech Pvt. Ltd.—Giriraj Bansal, Ketan Bansal,
CFO Nutankumar Chaudhary,
Other linked entities involved in the fake transactions.
They have been booked for cheating, criminal breach of trust, forgery, falsification of accounts and criminal conspiracy.
EOW is now tracing the money trail, examining fake invoices, and determining the roles of all accused.
