Surat, Feb 24 (NationPress) Authorities in Surat, Gujarat, have issued look-out circulars for four individuals from the Gajera family, following allegations of involvement in a staggering Rs 1,928.39 crore fraud. Investigators are also exploring potential financial connections between the Gajera family's business operations and the fugitive diamantaire Mehul Choksi.

The circulars target Vasant, Chuni, Ashok, and Bakul Gajera, along with their nephew Rakesh Gajera and two associates, as police efforts to locate them at their homes and business locations have been unsuccessful.

Assistant Commissioner of Police (EOW), G.A. Sarvaiya, stated to IANS, "The suspects could not be reached, and their mobile devices were turned off, leading to the issuance of alerts to immigration authorities to thwart any potential attempts to flee the country. A lookout notice has been filed against all suspects. Currently, there have been no arrests made, and we are examining all possible connections."

The allegations originated from a complaint by businessman Pravin Agrawal, who claims that he and his family were defrauded of Rs 1,928.39 crore concerning Shanti Residency Private Limited and the development and sale of units within the Millennium-2 and Millennium-4 textile market complexes in Surat.

As per the complaint, Agrawal asserts that his family's shareholding was diminished from 43 percent to 4.2 percent via what he describes as forged documents and unauthorized modifications to company records.

He further alleges that the proceeds from the sale of numerous shops were inadequately accounted for.

Following the Gujarat High Court's directive earlier this month, the Surat Police Commissioner, Anupam Singh Gahlaut, was ordered to ensure that appropriate measures were taken regarding the complaint after delays were reported by the petitioner.

Furthermore, officials from the Income Tax Department had previously conducted searches at locations associated with the Gajera group's real estate and diamond ventures earlier this year.

Sources acquainted with the investigation mentioned that these searches were prompted by information related to large cash transactions and questionable financial dealings, which are now part of a broader inquiry.

Investigators are delving into reported business ties between entities affiliated with Vasant Gajera and Mehul Choksi, who is wanted in India for his involvement in the Rs 12,000 crore Punjab National Bank fraud case.

Officials noted that these suspected connections are being scrutinized as part of the financial trail, although no direct findings have been disclosed at this time.

Police teams have been dispatched to various locations both within Gujarat and beyond to locate the accused.

So far, the Gajera family has not issued any public statement regarding the allegations. The investigation is ongoing.