Mumbai: Investors from Mumbai and rural Maharashtra were allegedly cheated of Rs 2.55 crore by Meera Clean Fuel Pvt Ltd.
About The Case
As per the complaint, the company lured hundreds of persons, including farmers, entrepreneurs, and professionals, into investing in its purported bio-fuel and bio-CNG projects, promising massive returns and government-backed support.
The FIR, filed at Matunga police station, names company directors Meera Shivaji Gholap, Dr Lavesh Ramchandra Jadhav, executive director Prachi Dhole, and managing director and CEO Dr Sham Shivaji Gholap as the key accused. The complaint was lodged by a 55-year-old business consultant, Jagdish Paighan, who claims to have been personally defrauded of over Rs 1.34 crore, while investors from Yavatmal were cheated of around Rs 1.21 crore.
The accused allegedly convinced investors that shares in their firm would rise to Rs 1,000 per unit post-investment, and bio-fuel projects would be implemented at the taluka (sub-district) level. Through various webinars, meetings with district collectors, and events like World Biofuel Day, the company officials allegedly recruited locals as taluka heads and village entrepreneurs under what they claimed was a government-aligned entrepreneurship model.
The police complaint mentions how Paighan was introduced to the company in April 2018 by an acquaintance. Sanjay Kambare, who invited him to their office in Dadar (East). At the office, the walls prominently displayed images of a biofuel factory alongside photographs of Vilasrao Deshmukh and Sheila Dikshit, allegedly inaugurating the project. During the meeting, Kambare claimed that Dr Gholap was not only a subdivisional magistrate posted in Mumbai but also a qualified doctor. He claimed Dr Gholap’s affiliations with prestigious institutions and even stated that they had worked with former President Dr APJ Abdul Kalam’s team.
Prachi Dhole was presented as a “double gold medallist” from BITS Pilani with R&D experience in Germany. They showcased images and documents related to successful bio-diesel and bio-CNG projects allegedly set up in Ratnagiri and Mumbai. The company claimed to have patented technology to produce bio-CNG from Napier elephant grass and claimed that their plant was already operational in Kolad, Raigad. To build credibility, World Biofuel Day celebrations were held at upscale venues like Sahara Star Hotel and Oberoi Hotel.
The company projected a Rs 3,000 crore turnover per taluka and investors were required to form private limited companies, acquire farmland or industrial plots, and even start local businesses at their own cost. Paighan too established RasSindhu Producer Organisation and leased five acres of land and spent approximately Rs 7 lakh to prepare the site for a bioCNG plant. However, the firm later claimed that the land was “insufficient”. So, in Umarkhed taluka, Paighan and his team spent over Rs88 lakh on land, machinery, and infrastructure.
Despite these efforts, no project ever became operational. Engineers were hired in Mumbai, Dombivli, Pusad, and Kolad, many of whom remain unpaid. When the pandemic was waning, at a meeting held at Mumbai’s Oberoi Hotel on June 30, 2021, Dr Gholap claimed that Meera Clean had enough funding to launch one project in each of India’s 5,500 talukas. He announced that 200 CNG plants would be launched by January 26, 2022, and told taluka heads to form bodies with 10,000 members each.
Despite collecting crores from investors, neither promised shares nor projects materialised. Checks issued for refunds bounced due to “stop payment” instructions. On February 14 this year, all three company offices were abruptly shut down, further raising suspicion among investors.
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