Unfulfilled Venture: Court Order Leads To FIR In ₹2-Crore Hotel Investment Fraud Case

A Dehradun resident has finally secured the registration of a police case in an alleged ₹2-crore investment fraud after approaching the courts, following years of claimed deception and repeated inaction by law enforcement. The case relates to a proposed hotel and hostel project in Mussoorie that, according to the complainant, never materialised despite substantial financial transfers.

The FIR was registered at Rajpur police station after a court order directed the police to initiate an investigation into the allegations.

Investment Proposal That Turned Sour

According to court records, the dispute traces back to 2014, when Deepak Kumar, a resident of the Arjunwala–Kolhuket area near Mussoorie, was introduced to Gaurav Kiraad. The complaint states that Kiraad proposed a joint venture involving the development of a hotel and hostel project in Mussoorie, presenting it as a mutually beneficial investment opportunity.

Kumar alleged that he was assured of equal profit-sharing and told that the project was progressing steadily. Over time, he was persuaded to make repeated financial contributions, which were described as necessary for land acquisition and development-related expenses.

₹2 Crore Transferred Through Multiple Accounts

As per the complaint, between 2023 and 2024 Kumar transferred more than ₹2.02 crore in several instalments. Instead of being sent to a dedicated project or business account, the money was allegedly routed to multiple bank accounts, including those belonging to Kiraad’s wife, parents, and a company linked to him.

The accused reportedly justified this arrangement on income-tax grounds. Investigators are now scrutinising these transactions as part of the probe registered under the Bharatiya Nyaya Sanhita, 2023, which covers offences related to cheating, criminal conspiracy, and financial fraud.

Police officials said the money trail and account usage form a critical part of the investigation.

Alleged Threats and Police Inaction

The complainant alleged that despite repeated payments, there was no visible progress on the proposed project. He claimed he was never shown the project site and received evasive responses when he sought documentation or construction updates.

When Kumar demanded a refund, the complaint alleges that he faced verbal abuse, threats of physical harm, and warnings that false criminal cases would be filed against him. He initially reported the matter to Mussoorie police and later lodged a cheating complaint at Rajpur police station.

With no FIR registered, Kumar escalated the matter to the Senior Superintendent of Police in Dehradun and, eventually, sought judicial intervention.

FIR Registered After Court Direction

Only after a court issued explicit directions did Rajpur police register an FIR. Station in-charge Pradeep Rawat confirmed that four individuals have been named as accused: Gaurav Kiraad, his wife Tina Kiraad, and his parents Suresh and Sunita.

Police said the investigation is ongoing and includes examination of bank records, financial transfers, and allegations of intimidation. No arrests have been made so far.

Broader Concerns Over Investment Fraud

The case highlights the risks associated with informal investment arrangements and the challenges faced by victims in securing timely police action. Legal experts note that court-monitored intervention is increasingly being used by complainants when allegations of economic offences are not acted upon promptly.

Authorities have advised investors to exercise due diligence, insist on formal agreements, and route funds only through verified business accounts to avoid similar situations.