Police Register Criminal Case After Investors Allege Non-Payment of Maturity Amounts and Closure of Company Operations

Police in Ahmedabad, Gujarat, have registered a criminal case against the directors and senior management of Unique Mercantile India Limited for allegedly defrauding retail investors through fixed deposit and monthly income schemes.

According to the complaint, the company allegedly attracted investors by promising assured returns on fixed-term deposits before discontinuing interest payments, closing its office and failing to honour maturity obligations amounting to approximately ₹14.83 lakh.

The allegations remain under investigation, and no court has yet determined the liability of the accused.

Company Allegedly Mobilised Investors Through Agents

The investigation began after a complaint filed by Vishnubhai Bholidas Patel, a 58-year-old resident of Kalol in Gandhinagar district.

According to the FIR, Patel came into contact with the company in 2017 through agents Sanjay Patel and Rajesh Patel, who allegedly introduced fixed deposit and monthly income schemes promising attractive returns.

Believing these representations, Patel reportedly joined the company as an agent on June 14, 2017.

Police allege that company representatives organised promotional meetings and offered commissions to encourage agents to bring in additional investors.

Before investing in high-return deposit schemes, investors should carry out proper **Due Diligence to verify the company's legal status, regulatory compliance and financial credibility.

₹11.65 Lakh Mobilised Through Investment Plans

According to the complaint, Patel invested his own money and also introduced family members and acquaintances to the investment schemes.

Between 2017 and 2018, he allegedly mobilised investments of approximately ₹11.65 lakh, with total maturity obligations reportedly reaching ₹15.93 lakh.

The FIR names:

• Utkarsh Rai
• Rahul Rai
• Raj Kumar Rai
• Mukeshbhai Patel
• Ghanshyambhai Patel

Police allege that investors were misled regarding the safety and returns of the investment schemes.

Interest Payments Allegedly Stopped After 2020

According to investigators, the company initially paid periodic interest and commissions, which allegedly strengthened investor confidence.

However, around 2020, interest payments reportedly stopped.

When investors approached the company's office in Navrangpura, management allegedly attributed payment delays to financial difficulties arising from the COVID-19 pandemic and assured investors that outstanding amounts would be cleared later.

Authorities are examining whether those representations were supported by the company's financial position during the relevant period.

Office Allegedly Closed, Investors Left Unpaid

Police allege that the company eventually ceased operations without settling investor dues.

According to the complaint:

• Approximately ₹1.10 lakh was repaid.
• Around ₹14.83 lakh allegedly remains unpaid.

Investigators are examining banking transactions, company accounts and financial records to determine the utilisation of investor funds.

Cases involving investor money often require an independent **Financial Investigation to trace fund movements, verify financial transactions and identify the complete money trail.

Police Examine Financial Records

Ahmedabad Police have registered the case under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) relating to cheating and criminal breach of trust.

Investigators are reviewing:

• Bank statements
• Investment records
• Deposit receipts
• Company accounts
• Financial documents
• Investor payment history

Accurate **Bookkeeping Services and proper maintenance of accounting records are often critical during financial fraud investigations to reconcile investor deposits with company transactions.

Investors Advised to Verify Regulatory Status

Financial experts have consistently advised investors to exercise caution before investing in schemes promising unusually high or assured returns.

Before investing, individuals should independently verify:

• Regulatory registrations
• Company credentials
• Financial statements
• Business operations
• Investment documentation
• Applicable approvals

Where regulated investment products are involved, investors should also confirm whether the entity is authorised by the relevant regulatory authorities before transferring funds.

Investigation Continues

Police continue to examine financial documents, banking records and investor complaints connected with the case.

Further action will depend upon documentary evidence, financial analysis and statements recorded during the investigation.

The allegations will be examined through the legal process, and no finding of guilt has been made at this stage.