A Mumbai officer was allegedly defrauded of ₹7.99 crore after being promised help in settling a company’s outstanding GST liability of around ₹11 crore. The Bandra-Kurla Complex police have registered a case against three people in connection with the alleged fraud.
The accused include Hiren alias Romy Bhagat and his associates. No arrests have been made so far, and the investigation is underway.
How did the ₹11 crore GST liability arise?
According to the complaint, 50-year-old Dadar resident Amit Tipnis had previously worked as a manager at the company. The company stopped operations during the Covid-19 pandemic in 2020, after which liabilities of around ₹11 crore connected with the business reportedly came to Tipnis.
In September 2023, Tipnis was introduced to Hiren Bhagat and Akash Gupta through advocate Prakash Nichani. The two allegedly assured him that they could help resolve the GST-related issues and provide relief from the company’s outstanding liabilities.
They also allegedly advised Tipnis to file a complaint in Guwahati against Sachin Adhikari, who was associated with the company.
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What did the accused allegedly promise?
Bhagat and Gupta allegedly claimed that they could help resolve the GST dispute and provide relief from the outstanding liability.
According to the complaint, the accused projected themselves as people capable of helping Tipnis deal with the GST-related matter. Their assurances allegedly led him to continue following their instructions and making payments.
What happened after Hiren Bhagat’s arrest?
According to police, Bhagat was arrested in another case in January 2024. After his arrest, Akash Gupta allegedly remained in contact with Tipnis and instructed him to deposit money into different bank accounts.
Gupta allegedly claimed that he had contacts within the GST department and warned Tipnis that his bank accounts could be frozen if the required payments were not made.
The complaint states that Tipnis’ bank account in Vashi was subsequently frozen by GST authorities. This allegedly strengthened his belief that the accused genuinely had connections within the department.
How was ₹7.99 crore allegedly transferred?
Following the assurances and warnings, Tipnis allegedly transferred large sums of money into different bank accounts provided by the accused.
The accused allegedly continued assuring him that the GST dispute would be resolved and that the financial restrictions would eventually be removed.
According to the complaint, Tipnis transferred a total of ₹7.99 crore to various accounts specified by the accused.
He also allegedly paid ₹5 lakh as a fee to chartered accountant Poojan Parmar. Despite the payments, however, the GST-related dispute and the company’s liabilities remained unresolved.
When did Tipnis begin questioning the accused?
According to the complaint, Tipnis remained in contact with the accused from August 2024 and repeatedly sought updates about the promised resolution.
Despite continued assurances, no concrete solution was provided. As the matter remained unresolved, Tipnis began questioning the accused about the money he had transferred and the status of the GST case.
What allegedly happened during the Worli meeting?
In March, Tipnis reportedly met the accused in Worli to discuss the unresolved matter.
According to the complaint, Hiren Bhagat allegedly threatened him during the meeting.
Following the alleged threat and the failure to resolve the GST matter, Tipnis approached the Bandra-Kurla Complex police and lodged a complaint.
What are Mumbai Police investigating?
The Bandra-Kurla Complex police have registered a case against three people and launched an investigation into the alleged fraud.
Investigators are examining the bank accounts into which the money was transferred, the financial transactions, communications between the accused and the complainant, and the alleged claims of having contacts within the GST department.
Police will also seek to establish where the ₹7.99 crore allegedly transferred by Tipnis ultimately went and how the funds were subsequently used.
No arrest has been reported so far.
