Ahmedabad: The Gujarat High Court has directed the Surat Police Commissioner to immediately register an FIR under all stringent provisions cited by complainant Praveen Devkinandan Agrawal against Vasant, Ashok and Rakesh Gajera.

The three brothers are alleged to have financial links with Mehul Choksi, the prime accused in the ₹15,000-crore Punjab National Bank fraud. Agrawal’s complaint alleges a conspiracy to take control of his 43% shareholding in Shanti Residences Pvt. Ltd., along with death threats issued to him.

According to the complainant, the brothers sold company properties at market rates but recorded only Jantri values in official documents, allegedly diverting several crores. The complaint further claims the siphoned funds were routed to Hong Kong through hawala channels, projected as foreign investment via Rakesh Gajera, and brought back into India in an alleged act of money laundering.

Agrawal has also accused the brothers of forging signatures of him, his wife and his father, reducing his stake from 43% to 4.02% and removing him as director using fabricated digital signatures submitted before the Registrar of Companies.

The complainant approached the High Court citing inaction by the Economic Offences Wing. On 12 February 2026, the Court ordered immediate FIR registration after reviewing submissions and the alleged criminal background of the accused, while expressing concern over police functioning and referring to a 2017 judgment of Justice Pardiwala.

The complainant’s counsel described the brothers as habitual offenders and land grabbers, citing around eight land-related cases in Surat and past imprisonment in forgery matters. Agrawal also alleged death threats to his family and attempts to implicate him in false cases, claiming the accused wield significant political and financial influence.

As per the Court’s direction, offences may be registered under IPC Sections 409; 467, 468, 469, 471 and 474; 386 and 389; 506(2); and 120B, 34 and 114, covering criminal breach of trust, forgery, extortion, intimidation and criminal conspiracy.

Suspicious transactions worth ₹1,900 crore

Recent six-day search operations by the Income Tax Department’s DDI wing at premises linked to the brothers—including construction sites, diamond units, factories and educational institutions—reportedly uncovered suspicious transactions totalling ₹1,900 crore. Authorities also froze over 30 bank lockers and found the brothers held directorships in nearly 40 companies.

Links to Mehul Choksi, PMLA case

According to the complainant’s counsel, the Enforcement Directorate has named the Gajera brothers as co-accused in a charge sheet filed before the Special PMLA Court in Mumbai in connection with the Choksi case. Funds were allegedly routed from Choksi-linked firms to Dubai and then to Rakesh Gajera in Hong Kong for laundering. DeshGujarat