Zirakpur bizman, kin booked for ₹6-crore investment fraud

The FIR names Bharat Bhushan alias Bharat Phutela, his father Prem Kumar, brother Sanjeev Kumar and others linked to KC Consultancy, Ricotta Agro Industries, Virk Enterprises, Rox Capitals and Pratap Sales Corporation

Zirakpur police booked a businessman and his family members for allegedly cheating five investors of ₹6 crore and later attempting to cover up the fraud by getting a missing person report lodged in Haryana after the main accused disappeared. Police said the accused lured investors with promises of up to 24% annual returns before allegedly absconding with the money.

The FIR names Bharat Bhushan alias Bharat Phutela, his father Prem Kumar, brother Sanjeev Kumar and others linked to KC Consultancy, Ricotta Agro Industries, Virk Enterprises, Rox Capitals and Pratap Sales Corporation. Police registered the case under Sections 406 and 420 of the Indian Penal Code (IPC) following an inquiry conducted by senior officials.

According to the inquiry, the accused persuaded investors to put money into businesses by assuring them of fixed annual returns. Investigators alleged that they initially paid small returns to gain the investors’ confidence before collecting larger amounts.

Police said the accused allegedly collected around ₹6 crore from five complainants. Sanjeev Gupta reported a loss of ₹2.7 crore, while Ramesh Kumar alleged he lost ₹1.5 crore. Harshil Arora claimed he invested ₹83 lakh and received ₹13.5 lakh back, leaving a loss of ₹69.5 lakh. Neeraj Kumar alleged he lost ₹45 lakh, while retired Assembly secretary Rajender Kumar Nandal claimed a loss of ₹30 lakh after investing ₹40 lakh and receiving ₹10 lakh back.

The inquiry further found that Bharat Bhushan allegedly absconded around November 22, 2025, after collecting money from investors.

Police also said that a missing person report lodged at Sirsa police station a day later was filed to divert the investigation. According to the inquiry, the complaint projected Bharat Bhushan as missing, but investigators concluded that the report was intended to shield him from the cheating allegations.

The FIR states that the accused routed investments through different firms, including KC Consultancy, Ricotta Agro Industries, Virk Enterprises, Rox Capitals and Pratap Sales Corporation.

Based on the inquiry report, the senior superintendent of police (SSP) approved registration of FIR No 408 at Zirakpur police station. Sub-inspector (SI) Jaswant Singh is investigating the case.

Police said they are examining the role of the other accused and verifying financial transactions linked to the alleged investment scheme. No arrest had been announced till the filing of the report.