Vadodara Crime Branch books 8 in alleged ₹300 crore Tensile Steel land lease fraud case

The Vadodara Crime Branch has registered a case against eight people in connection with an alleged fraud involving nearly one million square feet of land owned by Tensile Steel Company in the Manjalpur area, with an estimated market value of around ₹300 crore.

The complaint alleges that a former director of the company facilitated the execution of a disputed lease deed and handed control of the land to an Ahmedabad-based builder despite restrictions on the transfer of the property and an existing High Court order.

Investor alleges takeover bid after acquiring company stake

According to the complaint filed by Sanjay Patel, manager of Snehdeep Realty Pvt. Ltd and a resident of the Jambuva area of Vadodara, he was approached in May 2024 by Amit Mukeshbhai Shah and Bhavesh Amin, who were then associated with Tensile Steel Company.

Patel told police that he was persuaded to invest in the company after being shown the potential of the land and promised substantial returns. He alleged that he assumed liabilities, including shareholder payments and other financial obligations, investing a total of ₹123 crore.

Patel stated that an agreement was executed and that he formally took over the company on January 8, 2026, after Amit Shah resigned as a director.

According to the complaint, two days before the FIR was registered, a man identified as Jaimin Gandhi arrived at the company premises with 20 to 25 associates and allegedly attempted to take possession of the company and the land.

Patel quoted Gandhi as saying that the land had been permanently leased to Bhavesh Amin and that the premises should be vacated. He further alleged that threats were made to demolish the fencing if possession was not handed over.

Alleged irregularities in lease deed under investigation

Patel has claimed that he currently holds 87.62% of the company’s shares.

The complaint states that the land was originally allotted to Tensile Steel by the government in 1960 under specific conditions. Patel alleged that despite a High Court order prohibiting transfer of the land, efforts were made to lease it out.

During inquiries into the transaction, Patel alleged that Amit Shah, despite having resigned as a director, authorised directors Kishore Suratwala and Suresh Rajput to execute a lease deed. The complaint further alleges that ₹10 crore was received from Bhavesh Amin and that the monthly rent for the land was fixed at ₹1 lakh.

Based on these allegations, Crime Branch police have registered a case against eight accused.

Accused named in FIR

The accused named in the case are:

Amit Mukeshbhai Shah, director of PHC Buildcon and Padmavati Buildcon, resident of Kunj Society, Alkapuri, Vadodara.

Bhavesh Amin, owner of Shrim Construction Pvt. Ltd., resident of Shrim House behind Yogi Compound, Thaltej, Ahmedabad.

Kishore Jagjivandas Suratwala, director and signing authority of Tensile Steel, resident of Krishnaveli Flats near Amitnagar Circle, Karelibag.

Suresh Ganpatbhai Rajput, director of Tensile Steel, resident of Rang Avadhutpura, Diwalipura, Vadodara.

Bhumishtha Makwana, alleged to be associated with the lease deed transaction, resident of Krishna Apartment, Kabadi Market, Behrampura, Ahmedabad.

Naresh Kanchanlal Rana, deed witness, resident of Fateganj, Ranavas, Vadodara.

Mahesh Babubhai Patel, deed witness, resident of Bhoj village in Padra taluka.

Jaimin Gandhi and 20 to 25 unidentified associates, who are accused of allegedly attempting to take possession of the land.

Complaint alleges continued interference after resignation

The FIR further alleges that Amit Shah continued to represent Tensile Steel before government departments and other institutions even after resigning as director.

According to the complaint, he allegedly interfered in company records and operations and misrepresented himself as an authorised representative of the company while dealing with government agencies and related institutions.

Separate property-grab case linked to Amit Shah

The development comes amid another ongoing criminal case involving Amit Shah and his brother Surabhit Shah.

Two months ago, Dr Neena Parikh, the owner of a bungalow in Sampatrao Colony in Alkapuri who currently resides in Nagpur, lodged a complaint with Gotri police alleging that her family’s property had been fraudulently transferred.

According to the complaint, the property had originally been leased to Mukesh Jamnadas Shah and the lease was periodically renewed. After lease payments stopped following his death, the family issued a notice.

Dr Parikh alleged that a sale deed was subsequently executed in September 2009 using forged signatures in favour of Amit Shah and Surabhit Shah. She also alleged that the accused had claimed before a court that ₹15 lakh had been paid for the property, despite her father having died before the alleged transaction.

Police are currently searching for both brothers in connection with that case and have reportedly issued lookout notices at airports.