Vadodara builder Amit Shah held in ₹15.05 crore bank fraud case

Vadodara: The Manjalpur police have arrested builder Amit Mukesh Shah through a transfer warrant in connection with a case registered on a complaint by Unity Small Finance Bank over the land of Tensile Steel Company in the Manjalpur area. Shah, who was recently arrested in Pune, was produced before a court, which granted the police a two-day custody remand.

The FIR was registered with the Crime Branch on July 31, 2026, based on a complaint filed by Anjali Govind Parab, an authorised representative of Unity Small Finance Bank, formerly known as Punjab & Maharashtra Co-operative Bank.

According to the complaint, the bank had sanctioned a ₹80 crore loan in 2019 against the mortgage of the Tensile Steel Company land. Of the loan amount, around ₹31 crore remains outstanding, while transactions worth ₹15.05 crore were allegedly carried out without the bank’s knowledge.

The case names Amit Mukesh Shah, director of PHC Buildcon Pvt. Ltd. and Padmavati Buildcon Pvt. Ltd., along with Bhavesh Nareshchandra Amin, owner of Shrim Construction Pvt. Ltd., and Apurva Dineshchandra Patel, director of Siddhi Vinayak Developers. Amin and Patel are currently wanted in connection with the case.

Shah, who was arrested in Pune, was brought before the court on a transfer warrant. The investigation is being conducted by Manjalpur Police Inspector Chaudhary. Authorities are continuing their investigation into the alleged financial transactions and the land deal. DeshGujarat