An FIR was lodged against Amit Gupta, the promoter of Agrifields DMCC, formerly known for rock phosphate company Getax, by Kolkata Police. The FIR alleges a “fraudulent share transfer” of 1,510,000 shares, “forging and manipulating records,” and the alleged “striking off” of a loan of Rs 9,95,64,143 from Sunland Projects Pvt Ltd, according to the contents of the FIR.
Amit Gupta has been the subject of separate legal proceedings across multiple jurisdictions, including Australia, India, and Singapore, the details and outcomes of which remain unresolved.
In a separate matter, according to court documents cited by the Sydney Morning Herald, US authorities had described Getax director Amit Gupta as allegedly being “the target of a criminal investigation who is alleged to have conspired with others to bribe foreign public officials and to have engaged in money laundering and other offences.” This matter is unrelated to the Kolkata FIR and pertains to a separate, ongoing investigation.
Kolkata Police lodged the FIR on December 22, 2023, at Rabindra Sarobar Police Station. The case has been referred to the National Company Law Tribunal (NCLT).
The Alipore Court in Kolkata, on November 6, 2023, heard the case and ordered the respondents to submit their response and evidence by December 4, 2023. The required submissions were not received by the court by the stipulated deadline, for reasons not publicly known. The Kolkata Police FIR followed thereafter.
One of Sunland’s projects, Sunland Residency in Rajharat, Kolkata, spans 54,000 square feet (1.24 acres). Sunland reportedly owns real estate across India and reportedly holds ownership stakes in other businesses. According to submissions made before the court, its assets are stated to exceed 700 crore rupees.
Court documents further reveal alleged procedural irregularities in the share transfer — which represented approximately 33.33% of the company’s shares. According to the court filings, the transfer was not signed by the petitioner, was not registered before a Public Notary, and the relevant gift deed was not uploaded to the Ministry of Corporate Affairs portal.
The shares were transferred to Amit Gupta’s father, G.S. Gupta. Amit Gupta is alleged in court filings to be the ultimate beneficial owner (UBO) of those shares, a position he is said to have assumed in 2018.
Editor’s note: This article reports on an FIR filed by Kolkata Police in December 2023 and related legal proceedings. All allegations described herein are unproven and are drawn from court documents, FIR filings, or reporting by third-party publications. Amit Gupta is presumed innocent unless and until convicted by a competent court. References to proceedings in other jurisdictions are included as background context only and do not imply any finding of guilt in those matters.
Amit Gupta and his legal representatives have not responded to the allegations reported in this article. The Logical Indian welcomes any clarification, correction, or response from Mr. Gupta or his representatives at editor@thelogicalindian.com. Any response received will be published promptly as an update to this article.
Sunland Projects Pvt Ltd has not responded to the allegations reported in this article. The Logical Indian welcomes any response at editor@thelogicalindian.com
