Surat: Businessman Kanaiyalal Contractor Accused of Fraud by His Late Brother's Wife

Surat: Prominent businessman Kanaiyalal Lalbhai Contractor faces serious allegations of fraud. His late brother Hemant Lalbhai Contractor's wife, Nayanaben, filed a complaint on Thursday, October 24, 2024, with the Surat Crime Branch, accusing him of deception and breach of trust.

According to the complaint lodged with the Surat Crime Branch, Kanaiyalal Contractor allegedly took a mortgage loan of approximately ₹3 crores (₹2,92,00,396) from Bajaj Finance in 2009 using fake documents without the knowledge of other partners involved in their family business. Nayanaben Contractor, the complainant, has accused her brother-in-law of using forged signatures of herself, her late husband, Hemantbhai, and her late mother-in-law, Dahiben, to obtain the loan.

The complaint details that Kanaiyalal Contractor prepared a General Power of Attorney in October 2009, containing allegedly forged signatures of Nayanaben, her husband, and her mother-in-law. Based on this Power of Attorney, he secured the loan from the finance company. The funds from the loan were allegedly deposited into Kanaiyalal's personal accounts and used for private purposes, rather than for the partnership firm.

The issue surfaced when the finance company, after not receiving loan repayments, issued the first notice to the partnership firm in 2013. In response to the notice, accusations of document forgery related to the loan emerged.

Nayanaben claims that during the period when the loan documents were signed, she and her husband were abroad, making it impossible for them to have signed the papers. She asserts that the signatures were forged in their absence. Furthermore, she claims neither she nor her late husband were aware of the loan. She has sought justice, accusing her brother-in-law of betraying her trust.