Retired Indian Navy commodore among 11 investors claiming ₹4.51 crore fraud by two Hyderabad firms. They say promoters of Shares Bazaar Private Limited (SBPL) and Kisaan Parivar Limited (KPL) misled them about stock trading and organic farming investments.
On June 15,retired commodore Sanjeev Gupta, 58, from Mokila,filed a complaint with Cyberabad Economic Offences Wing (EOW). He reported both companies promised big returns—SBPL claimed SEBI registration with annual returns between 18% and 48%,while KPL advertised tax-free 24% returns from pooled agricultural land .
Gupta,his wife and daughter put ₹1.92 crore into these firms from 2022 to 2023 . Management said they'd get ₹2.42 crore by May 31, 2026, including interest. But since October 2025, no monthly interest,no principal returned. Gupta wants authorities to dig deep and take legal action.
Following the complaint,EOW filed case under sections of Bharatiya Nyaya Sanhita (BNS) and Telangana State Protection of Depositors Act. Charges: cheating,criminal breach of trust,common intention. EOW official said they're gathering evidence now.
This raises questions about regulation of investment firms in India,especially those promising big returns. As probe continues, attention turns to promoters' accountability and how investors are shielded from such frauds…
