THE SURAT crime branch on Monday registered an FIR in a Rs 1,928-crore cheating case against Vasant Gajera and his three brothers, a well-known real estate and diamond business family based in the city.
Later in the day, the Economic Offence Wing (EOW) of the Surat police issued a lookout notice for the Gajera brothers at all international airports across the country.
Praveen Agarwal, a resident of Surat, filed the complaint in this case. Agarwal, his wife and father were 43 per cent shareholders of Shanti Residency Private Limited, a company owned by Vasant Gajera and others. Agrawal alleged that the brothers sold off his stakes in the firm fraudulently, reducing it from 43 per cent to 4.02 per cent.
Based on the application of Agarwal, the Gujarat High Court on February 12 directed the Surat police to file an FIR against Vasant Gajera and his brothers Ashok and Rakesh.
Agrawal, in his complaint, said that the Shanti construction firm had constructed Millennium Markets-1, 2, 3, 4 on the Ring Road. Agrawal, in his complaint, further alleged that Gajera and his teams had sold off 2,334 shops in Millennium Market with Rs 1,928 crore in 2010. Gajera allegedly deposited Rs 150 crore in the firm’s bank account and took the remaining amount as cash from buyers.
An official from the Crime Branch said that they have dispatched teams to various locations to apprehend the suspects. According to police sources, Vasant and his brothers may have returned to their hometown, and the police are working to track their movements.
Vasant’s older brother Dhiru Gajera is a former MLA who was elected on both BJP and Congress tickets at different times. They are both regarded as influential figures within the Patidar community.
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Disposing of Agrawal’s petition, the High Court said in its order, “The contents of the application submitted by the petitioner before police authorities (EOW, Surat), shall be taken into consideration while registering the FIR and the provisions of the law shall be invoked as mentioned in the application submitted by the petitioner.”
Assistant Commissioner of Police, EOW Surat, G A Sarvaiya said, “We have earlier carried out investigations in to the applications submitted by the complainant Praveen Agrawal and we have registered an offence at the Surat Crime Branch police station. On Monday, we carried out search operations for Vasant Gajera and his four brothers at their residences, offices, real estate firms, diamond firms and offices of their other sister concerns in Surat. We have also sent our teams to the native place of the Gajera brothers in Saurashtra and Mumbai. We have issued a lookout circular against them at international airports across the country so that they cannot flee the country.”
Kamal Saiyed is a senior Correspondent for The Indian Express, providing extensive, on-the-ground coverage from Surat and the broader South Gujarat region and the Union territories of Daman, Diu & Dadra Nagar Haveli. With a reporting career at the publication spanning back to 2007, he has established himself as a high-authority voice on the industrial, social, and political pulse of one of India’s fastest-growing urban hubs.
Expertise
Industrial & Economic Beat: Based in the "Diamond City," Saiyed offers expert reporting on the diamond and textile industries. His work tracks global market shifts (such as De Beers production changes), local trade policies, and the socio-economic challenges facing the millions of workers in Surat’s manufacturing hubs.
Civic & Infrastructure Coverage: He consistently reports on urban development and public safety in Surat, including:
Traffic & Urban Planning: Monitoring the city's 13-fold increase in traffic violations and the implementation of new municipal drives.
Public Safety: Investigative reporting on infrastructure failures, fire safety NOC compliance in schools and commercial buildings, and Metro rail progress.
Political Reporting: Tracking the shifting dynamics between the BJP, Congress, and AAP in South Gujarat and the neighboring Union Territories (Daman, Diu, and Dadra & Nagar Haveli).
Crime beat: Armed with a good source network Saiyed has been able to bring out the human side of crime stories in his region ... Read More
