Police in Telangana have arrested Raj Kumar Roy, the 69-year-old managing director of Ahmedabad-based Unique Mercantile India Limited, in connection with an alleged inter-state investment fraud involving hundreds of crores of rupees. Roy, also known as Raj Kumar Kailash Rai, was apprehended by the Talamadugu police in Adilabad district on allegations of duping the public through promises of high returns, lucrative investment schemes, and chit fund benefits. Addressing reporters on Wednesday evening, the Adilabad Superintendent of Police stated that investigators are working to ascertain the total funds collected and determine whether additional individuals participated in the operation, which is estimated to have affected nearly 10,000 investors nationwide.
Adilabad Accounts and District Transactions Under Scrutiny
Initial findings indicate that the scale of the alleged fraud reaches well beyond Telangana, though local impact in Adilabad district alone involves an estimated 2,000 depositors and transactions valued between ₹7 crore and ₹8 crore. Following formal complaints from depositors, law enforcement officials registered multiple cases across the Adilabad One-Town, Mavala, Adilabad Rural, and Talamadugu police stations.
Investigators are scrutinising deposit records, terms offered to subscribers, and subsequent fund transfers to establish whether any promised payouts were delivered or if repayments were systematically withheld. Authorities are also verifying financial logs to map out the exact mechanisms used to solicit capital from retail investors.
Search Underway for Co-Accused as Asset Trails Emerge
A manhunt has been launched for the second accused, Chandrasekhar, who served as the Hyderabad-based zonal manager of Unique SMCS and remains absconding. Police are attempting to locate him to determine his role in soliciting deposits and overseeing day-to-day capital movements across the company network.
Concurrently, investigators are tracking banking channels to establish whether subscriber funds were diverted to purchase real estate assets, including hotels, land parcels, and commercial plots across Telangana and neighbouring states. Authorities noted that while substantial acquisitions have been identified, the direct evidentiary link between investor deposits and these property purchases remains under active investigation.
Land Acquisitions in Miyapur and Bibinagar Face Review
The ongoing inquiry has placed particular focus on the acquisition of roughly 400 plots in Miyapur, Hyderabad, alongside nearly 200 acres of land situated near the All India Institute of Medical Sciences at Bibinagar. Detectives are reviewing sale deeds, source-of-fund documentation, and registry details to establish whether these parcels were titled to the corporate entity or held under individual names.
Tracing the aggregate capital collected and matching it against registered properties remains the central operational challenge for police, given that victims appear dispersed across multiple states. Questioning of Roy continues in custody, while the charges and financial allegations against the accused remain subject to the formal judicial process.
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