Nagpur: In a high-stakes case of corporate fraud, Kamal Agarwal, a key promoter of the globally acclaimed food and sweets brand Haldiram, has reportedly been duped of ₹9.38 crore by a family-run dry fruit business that lured him with a fake shareholding promise. The case has been registered at Kalamna Police Station, and four accused are currently absconding.
The accused — Samir Abdul Hussain Lalani, his wife Heena Lalani, son Alishan Lalani, and business associate Prakash Bhosale — allegedly promised to transfer 76% shares of their company, Royal Dryfruit Private Limited, to Agarwal in exchange for a substantial investment made through Om Industries Limited, a subsidiary of the Haldiram Group.
This fraud unfolded shortly after the landmark merger of Haldiram’s Nagpur and New Delhi divisions, forming a consolidated entity recently valued at ₹84,000 crore. During this corporate transition, Agarwal was approached by the Lalani family with a proposal to invest in their dry fruit company. Enticed by the prospect, he was led to believe that a majority stake would be transferred to him.
By September 2023, Agarwal had invested ₹9.38 crore, but the promised share transfer never materialized. Despite multiple follow-ups and a revised agreement, the accused continued to delay the process, citing various excuses.
Alarm bells rang when no returns were received, and share certificates remained undelivered. An internal probe by Haldiram’s legal and financial teams exposed a well-orchestrated scam. The Lalanis had allegedly inflated the company’s turnover and profit figures using forged documents to lure investors. Falsified financial records were used to present Royal Dryfruit Pvt Ltd as a lucrative opportunity.
Upon discovering the fraud, Kamal Agarwal lodged a complaint with Kalamna Police. Preliminary investigations revealed that the accused are already under scrutiny by multiple government agencies for financial irregularities. Police suspect that other individuals may have also fallen victim to similar fraudulent investment schemes run by the same group.
Officials have registered a case under relevant sections of the Indian Penal Code for criminal breach of trust, cheating, forgery, and criminal conspiracy. A manhunt has been launched to trace the accused, who are believed to be absconding.
Industry experts view this case as part of a growing trend in white-collar crime where shell companies, fake financials, and manipulated documents are used to trap high-profile investors. Police investigations are currently ongoing, and further arrests are expected.
