Mumbai: Investors from Mumbai and rural Maharashtra were allegedly cheated of Rs 2.55 crore by Meera Clean Fuel Pvt Ltd.

As per the complaint, the company lured hundreds of persons, including farmers, entrepreneurs, and professionals, into investing in its purported bio-fuel and bio-CNG projects, promising massive returns and government-backed support.

The FIR, filed at Matunga police station, names company directors Meera Shivaji Gholap, Dr Lavesh Ramchandra Jadhav, executive director Prachi Dhole, and managing director and CEO Dr Sham Shivaji Gholap as the key accused. The complaint was lodged by a 55-year-old business consultant, Jagdish Paighan, who claims to have been personally defrauded of over Rs 1.34 crore, while investors from Yavatmal were cheated of around Rs 1.21 crore.

The accused allegedly convinced investors that shares in their firm would rise to Rs 1,000 per unit post-investment, and bio-fuel projects would be implemented at the taluka (sub-district) level. Through various webinars, meetings with district collectors, and events like World Biofuel Day, the company officials allegedly recruited locals as taluka heads and village entrepreneurs under what they claimed was a government-aligned entrepreneurship model.

The police complaint mentions how Paighan was introduced to the company in April 2018 by an acquaintance. Sanjay Kambare, who invited him to their office in Dadar (East). At the office, the walls prominently displayed images of a biofuel factory alongside photographs of Vilasrao Deshmukh and Sheila Dikshit, allegedly inaugurating the project. During the meeting, Kambare claimed that Dr Gholap was not only a subdivisional magistrate posted in Mumbai but also a qualified doctor. He claimed Dr Gholap’s affiliations with prestigious institutions and even stated that they had worked with former President Dr APJ Abdul Kalam’s team.

Prachi Dhole was presented as a “double gold medallist” from BITS Pilani with R&D experience in Germany. They showcased images and documents related to successful bio-diesel and bio-CNG projects allegedly set up in Ratnagiri and Mumbai. The company claimed to have patented technology to produce bio-CNG from Napier elephant grass and claimed that their plant was already operational in Kolad, Raigad. To build credibility, World Biofuel Day celebrations were held at upscale venues like Sahara Star Hotel and Oberoi Hotel.

The company projected a Rs 3,000 crore turnover per taluka and investors were required to form private limited companies, acquire farmland or industrial plots, and even start local businesses at their own cost. Paighan too established RasSindhu Producer Organisation and leased five acres of land and spent approximately Rs 7 lakh to prepare the site for a bioCNG plant. However, the firm later claimed that the land was “insufficient”. So, in Umarkhed taluka, Paighan and his team spent over Rs88 lakh on land, machinery, and infrastructure.

Despite these efforts, no project ever became operational. Engineers were hired in Mumbai, Dombivli, Pusad, and Kolad, many of whom remain unpaid. When the pandemic was waning, at a meeting held at Mumbai’s Oberoi Hotel on June 30, 2021, Dr Gholap claimed that Meera Clean had enough funding to launch one project in each of India’s 5,500 talukas. He announced that 200 CNG plants would be launched by January 26, 2022, and told taluka heads to form bodies with 10,000 members each.

Despite collecting crores from investors, neither promised shares nor projects materialised. Checks issued for refunds bounced due to “stop payment” instructions. On February 14 this year, all three company offices were abruptly shut down, further raising suspicion among investors.

Mumbai: Panic gripped the city once again after an unknown caller threatened of a bomb explosion in the Arabian Sea near Mumbai. The call was received on the national emergency helpline number 112, triggering immediate alert across the city.

Mumbai Police swung into action following the threat, with coastal security agencies and local police put on high alert. A massive search operation has been launched to trace the caller.

Senior officials said the threat is being taken seriously given the upcoming festive season and past instances of hoax calls that have disrupted city security. The police are currently verifying the authenticity of the claim while efforts are on to identify and nab the caller. This is the second major threat call in recent weeks, raising concerns over the misuse of helplines to spread panic.

Mumbai: In fresh trouble for industrialist Anil Ambani, the Enforcement Directorate (ED) has registered a money laundering case against him, Reliance Communications (RCom) and others over an alleged ₹2,929-crore bank fraud involving the State Bank of India (SBI).

Officials said the ED’s action follows a First Information Report filed by the Central Bureau of Investigation (CBI) last month. The CBI had named Ambani, RCom and others, including some government officials, accusing them of causing losses to SBI. It had also searched Ambani’s residence as well as RCom offices during its probe.

The SBI had classified RCom and Mr Ambani as “fraud” on June 13 and sent a report to the Reserve Bank of India (RBI) on June 24.

Reacting to the development, a spokesperson for Ambani said the complaint pertained to matters dating back more than a decade, when Ambani was a non-executive director and not involved in the company’s daily management. “SBI has already withdrawn proceedings against five other non-executive directors. Despite this, Mr Ambani has been selectively singled out,” the statement said.

The spokesperson added that Reliance Communications has, for the past six years, been under the supervision of a committee of creditors led by SBI and overseen by a resolution professional. “The matter remains sub judice before the NCLT and other judicial forums, including the Supreme Court. Mr Ambani has duly challenged SBI’s declaration before the competent judicial forum. He strongly denies all allegations and charges, and will duly defend himself,” the statement said.

With this latest ECIR, the ED’s ongoing investigations into Ambani and his group firms now cover four cases. Apart from the SBI matter, the agency is probing an alleged Rs 3,000-crore loan diversion linked to Yes Bank, involving suspected fund diversions by Reliance Group firms between 2017 and 2019. The probe has included raids at over 35 premises, searches at 50 companies, and questioning of at least 25 individuals.

The agency is also examining suspected loan diversions of more than Rs 17,000 crore by Reliance Infrastructure and other group entities, allegedly routed through inter-corporate deposits. Additionally, charges of fake bank guarantees worth Rs 68.2 crore tied to Reliance Power and Biswal Tradelink Pvt Ltd (BTPL) are part of the broader Rs 17,000-crore loan fraud inquiry.

Agency said that the SBI case involves misrepresentation to secure credit facilities, diversion of loan funds, inter-company transactions, misuse of invoice financing, discounting of bills, and creation of fictitious debtors. The accused face charges of criminal conspiracy, cheating, and criminal breach of trust.

The ED action was triggered by a complaint received on August 18, 2025, from Jyoti Kumar, Deputy General Manager of SBI’s Mumbai branch, referencing a forensic audit report dated October 15, 2020, that identified irregularities in loan utilisation. Investigations are ongoing to determine whether diverted funds were laundered through shell companies or offshore channels.

In the SBI case, it is alleged that the accused, in criminal conspiracy, secured credit facilities from SBI for RCom, misused loan funds, engaged in inter-company transactions, misused sales invoice financing, discounted bills of RCom via Reliance Infratel Ltd., routed funds through inter-corporate deposits, and created/write-off fictitious debtors.