Kolkata Police have arrested Mahendra Goenka, the alleged mastermind behind a suspected ₹1,000 crore financial fraud, from Delhi in connection with an investigation into alleged corporate fraud and forgery. The accused, a resident of Raipur, was produced before a court in Kolkata after transit formalities and has been remanded to ten days of police custody for further interrogation.
What Investigators Allege
According to investigators, Goenka is accused of using forged signatures, fabricated corporate records and counterfeit documents in an attempt to gain control of a private company, its assets and financial operations. The case originated from a complaint filed by Harnit Lamba, alleging Goenka had previously held a senior managerial position within the company and exploited that position to create forged documents and signatures to alter its corporate structure, introducing additional individuals into its management.
The complainant further alleged the company subsequently witnessed significant irregularities involving fixed deposits, immovable assets and financial transactions, with forged corporate records allegedly used to remove legitimate office-bearers and shareholders from management, enabling unauthorised control over corporate affairs and assets. These allegations remain under investigation and have not been established in court.
A Year-Long Manhunt Across Three States
Goenka’s arrest caps a pursuit that has spanned Madhya Pradesh, Chhattisgarh and West Bengal since at least August 2025, when Kolkata Police first conducted searches at his properties in Kotma, Madhya Pradesh, including a Hero motorcycle showroom he operated there, seizing several documents. Police subsequently raided the Farishta Complex office in Raipur belonging to Goenka, his brother Manish Goenka, and an associate identified as Sunil Kumar Agrawal, though the accused were not present at the time. All the main accused had remained absconding through this period, with police carrying out searches in multiple cities to locate them before Saturday’s arrest in Delhi following a tip-off and technical surveillance.
The case has been registered under multiple provisions relating to cheating, criminal conspiracy, forgery, fabrication of documents and the use of forged records. During police custody, investigators are expected to question Goenka about the alleged manipulation of company records, financial transactions and the movement of funds.
Parallel Cases and a Widening Financial Trail
Separate FIRs have also been registered at Kotwali and Madhavnagar police stations in Katni, Madhya Pradesh, covering different aspects of the case, while certain corporate disputes and financial issues linked to the company have reportedly also been examined before the National Company Law Tribunal. Investigators are now comparing judicial records, corporate filings and financial documents across these parallel proceedings to reconstruct the alleged fraud in full.
Sources familiar with the investigation say authorities are not limiting their probe to a single company, and are scrutinising other business entities, bank accounts and financial records allegedly connected to Goenka, aiming to determine whether company structures were used to divert funds and to identify the ultimate beneficiaries. Experts in economic offences note that large-scale corporate fraud investigations of this kind frequently hinge on forged documents, manipulated corporate records and falsified signatures, with digital evidence, banking records, forensic audits and statutory corporate filings playing a critical role in establishing the sequence of events. Investigators have indicated additional arrests or legal action may follow if further evidence emerges during the ongoing interrogation and forensic examination of documents, as authorities continue working to determine the full extent of the suspected corporate misconduct.
