Ghaziabad: A major financial fraud case involving an alleged ₹8.20 crore investment has surfaced in Uttar Pradesh’s Ghaziabad, where police have registered a case against four individuals, including a woman GST department official, for allegedly cheating a businessman on the pretext of setting up a new factory and expanding an existing manufacturing business. The accused allegedly accepted the investment by promising to establish a modern manufacturing unit and later produced forged documents while failing to deliver either the promised factory or the land. Investigators are also examining allegations of bogus GST transactions, fake invoices and possible financial irregularities linked to the case.
The complaint was filed by Lav Gupta, Director of Hoger Mega Mart Pvt. Ltd., a company engaged in the business of luxury bathroom fittings, sanitary ware and kitchen fittings across India. According to the complaint, Gupta had known Sushant Sharma, Director of Vittoria Faucets and M/s New Age Industries, and his wife Chhavi Sharma. In 2024, the couple allegedly approached him seeking financial assistance to expand their business by purchasing advanced machinery and upgrading manufacturing infrastructure.
Trusting their assurances, Gupta allegedly transferred ₹8.20 crore to the couple during April and May 2024. However, despite receiving the funds, the accused allegedly failed to carry out any expansion work or establish the proposed manufacturing facility. When Gupta sought the return of his money, the accused allegedly assured him that they would instead provide land for a new factory in the industrial area along Meerut Road and promised possession by May 20, 2024.
Police said the promised land was never handed over, nor was any factory established. During this period, the accused allegedly showed the complainant forged documents to create the impression that the project was progressing. As repeated assurances failed to materialise, both parties reportedly entered into a settlement agreement on August 21, 2024, under which the accused agreed to refund ₹5 crore. However, according to the complaint, only ₹40.43 lakh was repaid, while the remaining amount remained unpaid.
The FIR further alleges that Neeta Sharma, mother-in-law of Sushant Sharma and an official posted in the Ghaziabad GST Department, along with Manoj Sharma, his father-in-law, were also involved in the alleged conspiracy. The complainant has alleged that Neeta Sharma threatened him with departmental action and used her official position to exert pressure during the dispute.
The complaint also accuses the accused of operating fraudulent financial transactions through a firm named Kedar Polymers by allegedly generating fake invoices and carrying out bogus business transactions to evade GST liabilities. It has further been alleged that Neeta Sharma assisted in facilitating these activities. Investigators are examining these allegations separately to determine whether tax violations or other financial offences were committed.
During the preliminary investigation, police reportedly found that Sushant Sharma and Chhavi Sharma had also borrowed money from several other individuals and financial institutions. According to the complaint, the couple allegedly left their residence after raising loans from multiple sources, prompting suspicions that similar frauds may have been committed against other victims as well.
Acting on the directions of the Police Commissioner, Kavinagar Police have registered a case against Sushant Sharma, Chhavi Sharma, Manoj Sharma and Neeta Sharma under relevant provisions relating to cheating and criminal conspiracy. Investigators are verifying financial records, investment agreements, bank transactions and the authenticity of the documents allegedly shown to the complainant.
Police said the investigation is ongoing to trace the money trail, examine the alleged forged documents and determine whether additional victims or financial irregularities are linked to the accused. Authorities are also exploring the role of each accused in the alleged conspiracy and have indicated that further legal action will be taken based on the evidence collected during the investigation.
