Nagpur News

Nagpur Businessman Accused of Extorting ₹200 Crore from JP Group

Brothers Mahesh and Rajesh Kingrani Arrested After Dispute Over Mortgaged Properties

A sensational extortion case involving a staggering ₹200 crore demand has rattled the Nagpur business community. The Nagpur Economic Offences Wing (EOW) has arrested brothers Mahesh Kingrani and Rajesh Kingrani for allegedly threatening to seize properties belonging to the city-based JP Group.

According to investigations, the Kingrani brothers had invested heavily in various JP Group projects since 2019. However, disagreements arose concerning properties located in Bokhara, Gaddigodam, Dus Number Puliya, and an upcoming project at Nandanvan.

Police reports reveal that initial agreements categorized as ‘security’ and mortgage documents became the center of the dispute. Two years ago, the Kingranis sought the return of their investments. However, JP Group insisted on returning the money with interest only after receiving back the property documents they held as mortgage.

The situation escalated when the Kingranis allegedly refused JP Group’s offer and demanded ₹200 crore instead. Failing to comply, they threatened to take over JP Group’s properties. This led to a series of complaints, counter-complaints, legal notices, and ongoing litigation between the two parties.

The EOW investigation culminated in filing an extortion case against the Kingrani brothers at the Sadar police station. DCP (EOW) Archit Chandak confirmed that JP Group, represented by Jaiprakash Khushlani, is willing to return the Kingranis’ investments with interest. Chandak also stated that notices have been issued to the Kingrani brothers to record their statements, with witness testimonies to follow soon.

This high-profile case highlights the complexities and legal challenges within Nagpur’s business environment. Authorities are determined to ensure justice prevails in the wake of this alleged extortion attempt.

News Source : https://www.nagpurtoday.in/%e2%82%b9200-crore-extortion-case-rocks-nagpur-business-circles/03311034

Devashish Jain

I have been a content writer for more than 5 years now and have worked on multiple niches. My articles are well researched and written in a engaging way. I have also written a few eBooks on various topics which are available on Amazon Kindle. If you are looking for a professional and experienced content writer, then please do get in touch with me.

Devashish Jain

I have been a content writer for more than 5 years now and have worked on multiple niches. My articles are well researched and written in a engaging way. I have also written a few eBooks on various topics which are available on Amazon Kindle. If you are looking for a professional and experienced content writer, then please do get in touch with me.

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