/images/ppid_59c68470-image-176941002584674953.webp)
/images/ppid_a911dc6a-image-176940752596894338.webp)
/images/ppid_a911dc6a-image-17694075667138522.webp)
/images/ppid_a911dc6a-image-176940682255082728.webp)
What is the story about?
The Economic Offences Wing (EOW) of the Delhi Police has registered a case in 2025 in connection with an alleged large-scale corporate fraud involving forged documents and illegal transfer of shares.
The complaint has been filed by Zion Universal Pvt Ltd through its power of attorney holder, Siddharth Sharma, as per a report by News18 Hindi.
The accused include the company Sadar Himalayan Paradise Pvt Ltd, which later changed its name to IHHR Hospitality (Himachal) Pvt Ltd, along with its directors and senior officials, as per the complaint cited by News18 Hindi.
They are alleged to have conspired to illegally sell company shares, prepare fabricated documents and unlawfully take control of the firm, leading to alleged money laundering involving crores of rupees.
The EOW FIR names multiple accused, including Dhairya Chaudhary, Sumant Kapoor, Rajesh Rohitbhai Mehta, Prakash Lal Kapoor, Sanjeev Trehan, Mamta Panwar, Navjot Mehta, Ashok Khanna, Ghanshyam Seth, Manpreet Kaur Takkar and Dilip Chinubhai Choksi, among others, according to the FIR details, the report said.
Control diluted despite near-total shareholding
The complaint states that Zion Universal Pvt Ltd held 99.98% of the company’s shares until February 2025 and that all key decisions required its consent. Despite this, the accused allegedly began plotting to seize control of the company from August 2024.
Read more: Republic Day 2026 Live Updates
Investigators have been told that in December 2024, forged documents were allegedly used to create an “interest-free” loan agreement, which was later intended to be converted into equity without proper authorisation, as per News18 Hindi.
Fake meetings and inflated share capital alleged
According to the complaint, records show that extraordinary general meetings and board meetings were purportedly held on December 3, 2024, and February 13, 2025. However, there is no evidence of the complainant or its representatives being present, raising suspicions that these meetings were fabricated.
It is alleged that through these actions, the authorised share capital was increased from ₹80 crore to ₹170 crore, and over 8.7 crore shares were allotted to M/S IHRR Hospitality Pvt Ltd. This reportedly reduced Zion Universal’s stake to 47.67%, while IHRR Hospitality’s holding rose to 52.34%, as per News18 Hindi.
ED may step in as probe widens
The FIR has been registered under charges related to criminal conspiracy, cheating and forgery, and the EOW has begun a detailed investigation.
The matter could also be referred to the Enforcement Directorate (ED) for further examination, given the alleged financial irregularities and suspected money laundering, as per the report.
The complaint has been filed by Zion Universal Pvt Ltd through its power of attorney holder, Siddharth Sharma, as per a report by News18 Hindi.
The accused include the company Sadar Himalayan Paradise Pvt Ltd, which later changed its name to IHHR Hospitality (Himachal) Pvt Ltd, along with its directors and senior officials, as per the complaint cited by News18 Hindi.
They are alleged to have conspired to illegally sell company shares, prepare fabricated documents and unlawfully take control of the firm, leading to alleged money laundering involving crores of rupees.
The EOW FIR names multiple accused, including Dhairya Chaudhary, Sumant Kapoor, Rajesh Rohitbhai Mehta, Prakash Lal Kapoor, Sanjeev Trehan, Mamta Panwar, Navjot Mehta, Ashok Khanna, Ghanshyam Seth, Manpreet Kaur Takkar and Dilip Chinubhai Choksi, among others, according to the FIR details, the report said.
Control diluted despite near-total shareholding
The complaint states that Zion Universal Pvt Ltd held 99.98% of the company’s shares until February 2025 and that all key decisions required its consent. Despite this, the accused allegedly began plotting to seize control of the company from August 2024.
Read more: Republic Day 2026 Live Updates
Investigators have been told that in December 2024, forged documents were allegedly used to create an “interest-free” loan agreement, which was later intended to be converted into equity without proper authorisation, as per News18 Hindi.
Fake meetings and inflated share capital alleged
According to the complaint, records show that extraordinary general meetings and board meetings were purportedly held on December 3, 2024, and February 13, 2025. However, there is no evidence of the complainant or its representatives being present, raising suspicions that these meetings were fabricated.
It is alleged that through these actions, the authorised share capital was increased from ₹80 crore to ₹170 crore, and over 8.7 crore shares were allotted to M/S IHRR Hospitality Pvt Ltd. This reportedly reduced Zion Universal’s stake to 47.67%, while IHRR Hospitality’s holding rose to 52.34%, as per News18 Hindi.
ED may step in as probe widens
The FIR has been registered under charges related to criminal conspiracy, cheating and forgery, and the EOW has begun a detailed investigation.
The matter could also be referred to the Enforcement Directorate (ED) for further examination, given the alleged financial irregularities and suspected money laundering, as per the report.
/images/ppid_a911dc6a-image-176940922721796348.webp)
/images/ppid_a911dc6a-image-176940892651168539.webp)
