FIR lodged against Agrifields DMCC boss for 700 crore fraud.

An FIR has been filed by Kolkata Police against Amit Gupta, who heads Agrifields DMCC and was earlier linked to the rock phosphate enterprise Getax. The complaint details allegations of a "fraudulent share transfer" of 1,510,000 shares, "forging and manipulating records," and "illegally striking off a loan amounting to Rs 9,95,64,143 from Sunland Projects Pvt Ltd, as stated in the FIR.

For more than a decade, Amit Gupta has been subject to legal examination across multiple jurisdictions, with proceedings and investigations involving authorities in Australia, India, and Singapore.

According to the Sydney Morning Herald, "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."

In 2018, as reported by The Straits Times, a Singapore court imposed a fine of SG$80,000 on Getax for bribing a Member of Parliament in Nauru.

The FIR was registered on December 22, 2023, at Rabindra Sarobar Police Station. The dispute has also been taken to the National Company Law Tribunal.

On November 6, 2023, the Alipore Court heard the matter and directed the respondents to submit their replies and supporting documents by December 4, 2023. Neither Amit Gupta nor Sunland Projects complied with this directive, which was followed by the lodging of the FIR.

Among the company's developments is Sunland Residency in Rajarhat, covering approximately 54,000 square feet (1.24 acres). Sunland holds real estate assets across India and maintains ownership interests in other ventures.

Court submissions state that the company's assets exceed Rs 700 crore.

Judicial documents further indicate procedural irregularities in the transfer of approximately 33.33% of the company's shares. The transfer documents were not signed by the petitioner, were not executed before a Public Notary, and the associated gift deed was not uploaded to the Ministry of Corporate Affairs portal.

The shares were transferred to Amit's father, G.S. Gupta, and in 2018 Amit Gupta became the ultimate beneficial owner (UBO) of those shares.

The continuing legal proceedings and enforcement actions reflect coordinated efforts by domestic and international authorities, bringing attention to the complex history of Amit Gupta and his business entities, and adding further layers to the unfolding legal developments.