Rs 100 Crore Loan Scandal in Surat: Hi-Tech Sweet Water Director and Wife Flee to America, CBI Launches Investigation

Vijay Shah, the director of Surat Hi-Tech Sweit Votar Company, along with his wife Kavita Shah and Satish Agarwal, had taken loans worth 100 crore from the Bank of Baroda. They have also received information about them going to the United States as a couple, possibly carrying several rupees along. Satish Agarwal is currently located in Surat. Multiple FIRs have been filed against them in various cases. In addition to these allegations, information has emerged regarding land dealings in Rajasthan and selling an apartment to two individuals in Surat, prompting a comprehensive investigation by the CBI in Gandhinagar.

Vijay Shah, the director of Surat Hi-Tech Sweet Water Company, along with his wife Kavita Shah and Satish Agarwal, had obtained a loan of 100 crore rupees from the Bank of Baroda in Surat. They are alleged to have left for the United States with a substantial amount of money. After this, Vijay Shah was accused of manipulating the position of a company employee to appoint himself as the director. Later, Satish Agarwal was removed from the director’s post, and he was not involved in any further company activities. Vijay Shah had taken loans from Bank of Baroda, and later, the transactions were investigated by authorities. They also merged O.B. Bank with Bank of Baroda. Moreover, it has been reported that after this merger, the Bank of Baroda gave Vijay Shah staggered loans, amounting to a total of 100 crore rupees.

Hiren Bhavsar, the owner of the solar company Kashyap Private Limited, revealed that they have evidence of fraudulent activities committed by Vijay Shah. He filed a complaint with the Central Bureau of Investigation (CBI) in Gandhinagar in 2023. Subsequently, the Economic Offenses Wing of the Surat Crime Branch began an investigation into these allegations. This probe aims to uncover the fraudulent activities involving multiple individuals and unravel the complex web of deceit. It has also been reported that Hiren Bhavsar had written a letter to the Prime Minister’s Office (PMO) regarding this matter. Multiple FIRs have been registered against these individuals, including cases related to land dealings in Ajmer and Jaipur, as well as the 2017 case involving the sale of a flat to two individuals in Surat. These cases could lead to the arrest and legal action against those involved in the alleged fraudulent activities. Bringing these individuals from abroad to face potential legal consequences is now being considered.

Niyati Rao

Niyati Rao is a seasoned writer and avid consumer who specializes in crafting informative and engaging articles and product reviews. With a passion for research and a knack for finding the best deals, Niyati enjoys helping readers make informed decisions about their purchases.