News Stocks Delhi Police EOW Investigates Alleged Corporate Fraud at IHHR Hospitality Involving Share ManipulationDelhi Police EOW Investigates Alleged Corporate Fraud at IHHR Hospitality Involving Share Manipulation
Delhi Police EOW has registered a case in 2025 against IHHR Hospitality and multiple individuals for alleged corporate fraud involving share manipulation and document forgery. The complaint by Zion Universal alleges that despite holding 99.98% shares until February 2025, the accused used fabricated meetings to increase share capital from ₹80 crore to ₹170 crore, reducing Zion's stake to 47.67%. The case involves suspected money laundering worth crores and may be referred to the Enforcement Directorate for further investigation.
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The Economic Offences Wing (EOW) of Delhi Police has registered a case in 2025 investigating alleged large-scale corporate fraud involving IHHR Hospitality (Himachal) Pvt Ltd, formerly known as Sadar Himalayan Paradise Pvt Ltd. The complaint has been filed by Zion Universal Pvt Ltd through its power of attorney holder, Siddharth Sharma, alleging conspiracy to illegally sell company shares, prepare fabricated documents, and unlawfully seize control of the firm.
Accused Individuals and Allegations
The FIR names multiple accused individuals in connection with the alleged fraud scheme:
| Accused Parties: | Details |
|---|---|
| Primary Company: | IHHR Hospitality (Himachal) Pvt Ltd (formerly Sadar Himalayan Paradise Pvt Ltd) |
| Named Individuals: | Dhairya Chaudhary, Sumant Kapoor, Rajesh Rohitbhai Mehta, Prakash Lal Kapoor, Sanjeev Trehan, Mamta Panwar, Navjot Mehta, Ashok Khanna, Ghanshyam Seth, Manpreet Kaur Takkar, Dilip Chinubhai Choksi |
| Alleged Activities: | Conspiracy, illegal share sales, document fabrication, money laundering |
The accused are alleged to have conspired to illegally sell company shares and prepare fabricated documents, leading to suspected money laundering involving crores of rupees.
Share Manipulation and Control Dilution
According to the complaint, Zion Universal Pvt Ltd maintained significant control over the company with a 99.98% shareholding until February 2025, requiring its consent for all key decisions. Despite this near-total ownership, the accused allegedly began plotting to seize control from August 2024.
| Timeline: | Events |
|---|---|
| Until February 2025: | Zion Universal held 99.98% shares |
| August 2024: | Alleged conspiracy to seize control begins |
| December 2024: | Forged documents allegedly used for "interest-free" loan agreement |
| December 3, 2024 & February 13, 2025: | Alleged fabricated meetings held |
Investigators have been informed that forged documents were allegedly used in December 2024 to create an "interest-free" loan agreement, which was later intended for conversion into equity without proper authorization.
Fabricated Meetings and Share Capital Manipulation
The complaint alleges that extraordinary general meetings and board meetings were purportedly conducted on December 3, 2024, and February 13, 2025. However, no evidence exists of the complainant or its representatives being present at these meetings, raising suspicions of fabrication.
| Financial Impact: | Before | After Alleged Manipulation |
|---|---|---|
| Authorized Share Capital: | ₹80 crore | ₹170 crore |
| Zion Universal Stake: | 99.98% | 47.67% |
| IHRR Hospitality Stake: | Minimal | 52.34% |
| Shares Allotted: | - | Over 8.7 crore shares |
Through these alleged actions, the authorized share capital was reportedly increased from ₹80 crore to ₹170 crore, with over 8.7 crore shares allotted to M/S IHRR Hospitality Pvt Ltd.
Investigation and Potential ED Involvement
The EOW has registered the FIR under charges related to criminal conspiracy, cheating, and forgery, initiating a detailed investigation into the matter. Given the alleged financial irregularities and suspected money laundering activities, the case may be referred to the Enforcement Directorate (ED) for further examination and potential action under money laundering provisions.
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