Directors of KAP Global Allegedly Promise Returns but Default on Payments; Three FIRs Registered
Lucknow: The Lucknow police have launched investigations following complaints by Deputy Commissioner of Police (DCP) East, Geetanjali Sabat, stationed in Odisha, alleging a massive ₹95 lakh fraud by the directors of KAP Global Invest Services Pvt. Ltd. Three separate FIRs have been registered at the Vibhutikhand police station against the company’s directors for deceiving investors under the guise of lucrative returns.
According to DCP Sabat, her interaction with Kunal Dhiren Kumar Mehta, a director of KAP Global, began in 2024. Along with Kunal, Himanshi Mishra, Rita Mehta, and Rahul Khushiram Mehta also hold director positions in the company. The directors allegedly promised 20% returns on principal investment and quarterly profits. A memorandum of understanding (MoU) was also executed on March 1, 2024, formalising the terms.
Initially, the accused reportedly paid out some profits, but payments soon stopped. When the DCP raised concerns, Kunal and other directors allegedly avoided accountability and delayed responses, prompting her to escalate the matter to DCP Shashank Singh, who instructed the Vibhutikhand police to take action.
Scope of the Fraud Extends to Other Investors
Pranav J. Sharma, a retired government official from Guwahati, Assam, invested ₹45 lakh in April 2023 under the promise of returns. When the payouts were due, the directors allegedly made excuses and avoided payments. Frustrated, Pranav filed a complaint with the ACP of Vibhutikhand.
Samiksha, a resident of Cuttack, Odisha, reportedly invested ₹25 lakh in the company under similar assurances. She also approached DCP Sabat after the company failed to deliver the promised returns. Inspector, in charge at Vibhutikhand police station, confirmed that investigations into all three cases are underway, and legal action will be taken based on collected evidence and witness statements.
Experts note that such fraudulent investment schemes exploiting promises of high returns are increasingly common, resulting in significant financial losses for ordinary investors. Authorities have emphasised that rigorous evidence collection and prompt legal action are critical to curb these malpractices.
The incident highlights the importance of corporate transparency and investor vigilance in today’s financial ecosystem. DCP Sabat advised potential investors to verify company registration, director credentials, and legal compliance before committing funds.
According to police officials, this case underscores that fraud is not merely a financial crime, but also a matter of regulatory oversight and investor protection. Timely complaint resolution, vigilant monitoring, and preventive measures are essential to deter similar schemes.
In conclusion, the KAP Global scam serves as a cautionary tale for investors in Lucknow and surrounding regions. It demonstrates that without secure investment practices, legal awareness, and due diligence, financial mismanagement can result in substantial losses. Authorities have urged investors to exercise caution and report suspicious activities promptly.
