Mumbai: A Shivaji Park businessman, Pratik Vira, lodged an FIR at Matunga police station against real estate developers Kashyap Mehta, Atul Bharani, and others associated with Sunshine Group for cheating, breach of trust, and forgery. Vira, a construction and finance entrepreneur, has alleged that he was deceived into investing Rs 150 crore from his group into Sunshine Group, and was later defrauded through forged documents and unauthorised loans amounting to Rs 250 crore.
Vira and his father, Jayesh Vira, began investing in Sunshine Group in 2006 after being promised high returns and a business partnership. Over time, he became a shareholder and director in multiple companies within the group, but claims he had no control over financial decisions.
The complaint highlights that Sunshine Group secured loans from financial institutions like ICICI Prudential and LIC Housing Finance Ltd (LICHFL) under fraudulent pretences. Vira alleges that a Rs 25 crore loan was taken in his name without his consent in 2015, and another loan of Rs 55 croresecured in 2016. Further, in 2017, a Rs 90 crore construction loan from LICHFL meant for the Samrudhi Garden project in Bhandup was taken, with Rs 18.22 crore allegedly diverted to to other entities.
Tensions between Vira and Sunshine Group escalated when he began questioning financial irregularities. He was subsequently removed from company operations, and legal battles ensued in National Company Law Tribunal National Company Law Appellate Tribunal, and Supreme Court. A settlement agreement in 2018 granted Vira a stake in one of Sunshine Group’s companies, which was later renamed Sivana Realty Pvt Ltd. However, he claims the group failed to honour its commitment, leading to further loss of Rs 38.35 crore.
The police have registered an offence of forgery, financial mismanagement, and breach of trust being probed by Matunga Police. Police are yet to make any arrests, but sources said key figures from Sunshine Group may be called in for questioning soon.