The Mumbai Police's Economic Offences Wing is investigating Suraksha Realty directors over allegations of forgery and criminal conspiracy regarding the acquisition of Jaiprakash Infratech. The probe focuses on claims that unauthorized digital signatures were used to bypass internal consent during the bidding process. This investigation adds further complexity to the long-standing resolution of the debt-laden infrastructure firm.
The Economic Offences Wing (EOW) of the Mumbai Police has initiated a formal investigation into allegations of forgery and criminal conspiracy against directors of Suraksha Realty. The probe centers on the contentious acquisition of Jaiprakash Infratech (JIL), a project that has been under insolvency proceedings for several years. The investigation follows a complaint lodged by Vijaykumar Mohanlal Parekh, a director at Suraksha Realty, which raises questions about the legitimacy of the bidding process.
According to the complaint, the consortium involving Suraksha Realty and Lakshdeep Investments & Finance had initially intended to withdraw from the bidding process in 2019 after creditors rejected their proposal. The complaint alleges that the Walia group proceeded with the bid independently without the necessary internal approvals. A critical part of the investigation involves the alleged unauthorized use of a digital signature belonging to Paresh Parekh on multiple board resolutions between 2019 and 2021. These documents were central to securing the eventual approval from the National Company Law Tribunal (NCLT) for the takeover of the distressed asset.
This development introduces significant legal uncertainty for the resolution process of Jaiprakash Infratech. Beyond the JIL deal, Suraksha Realty is facing increased legal scrutiny. The EOW is simultaneously examining financial irregularities linked to the Suraksha Asset Reconstruction Company, with specific focus on allegations regarding misconduct in loan recoveries and historical ties to officials at Yes Bank. Furthermore, a separate FIR was filed by the Delhi Police earlier in 2026 concerning related financial irregularities, highlighting a pattern of mounting legal challenges for the group.
The allegations currently remain under investigation, and representatives for the Walia group have not yet issued a public response regarding these claims or the requests for documentation from the complaining faction. For investors and stakeholders associated with the JIL resolution, the key monitorable will be how these legal probes influence the ongoing takeover process and whether they result in any delays or revisions to the implementation of the resolution plan as initially approved by the NCLT.