Raft Motors Forgery and Fraud Case, Founder Wrote a Letter to the Prime Minister

In a business setting where trust and ethics are crucial, a startling revelation from the founder of Raft Motors Pvt. Ltd has surfaced online. In a share transfer case, he has accused Aditya Vikram Birla, a Kolkata businessman and CMD of the Cosmic Birla Group of forgery and fraud.

Raft Motors founder, Parivesh Shukla, recently disclosed the incident on his LinkedIn Page involving forgery and fraud in a case regarding the unlawful transfer of his shares valued at 244875 ( 10.76% Equity).

The Acquisition

The acquisition of Raft Motors by Cosmic Birla Group occurred in November 2023. The acquisition initially was viewed as a positive step and the right direction for the success and expansion of Raft Motors but has now become a nightmare for the founder.

Parivesh Shukla Founder of Raft Motors wrote on LinkedIn

“Dear Mr. Ashish Kacholia,

I hope this message finds you well. I am writing to bring to your attention a deeply troubling issue involving Raft Motors Ltd, a company I founded with years of hard work and dedication.

It has come to my notice that your partner Aditya Vikram Birla Managing Director of Cosmic CRF LTD has allegedly committed fraud and forgery to remove me from the company. Through forged signatures on the SH4 Form, my shares were illegally transferred, effectively ousting me from the business I built from the ground up.

This act is not just a personal betrayal but also a severe violation of ethical and legal principles. I am seeking justice in this matter and believe your intervention could play a crucial role in ensuring accountability and transparency.

I kindly urge you to look into this matter at the earliest and take the necessary steps to address this wrongdoing. I am confident that you, as a respected figure in the business community, understand the importance of protecting the rights of founders and maintaining ethical corporate practices.

Thank you for your attention, and I am available to discuss this matter further should you require more details.”

The Matter In Hand

On 22nd December 2024, Raft Motors filed their Draft Red Herring Prospectus (DRHP).

When the founder, Parivesh Shukla inspected it on 24th December 2024, he found that his name was not included in it as a promoter and shareholder.

He immediately filed a complaint with SEBI and BSE. On behalf of BSE India, he received an SH4 share transfer form for the company.

Forgery

His signature was used in a forged manner in that form. According to this forged document, 14,69,250 of my shares were transferred in the name of a person named Raja Saha, whom he claims to have never met or known.

Request to the Prime Minister

Parivesh Shukla wrote on his LinkedIn page, “Hon’ble Prime Minister, this matter is like life and death for me. I have built this company with years of hard work, and now I have been fraudulently deprived of my shares. I have filed a complaint with the police, but it is a long process, and I am afraid that they may sell my shares further to someone else.”

I humbly request you to help me in this matter. With your guidance and intervention, I can get justice. The brand ambassador of my company is Mr. Sourav Ganguly. This entire episode is an example of injustice in the life of a small entrepreneur.”

“I am ready to submit all the required documents along with this letter. Please help me save my life and my company. ” he plead further.

Action Taken

He has reported this matter to the SEBI, MCA and the Police to seek justice. He aims to raise awareness as well as incorporate fairness in the corporate ecosystem by reporting this case.

Final Thoughts

The situation with Parivesh Shukla and his share of Raft Motors serves as an important reminder of how crucial transparency, trust, and fairness are in a business landscape.

To enhance trust and credibility, the company has appointed Shri Sourav Ganguly, the former Indian cricket team captain, and a respected national icon, as the company’s brand ambassador. 

The founder of Raft Motors is committed to seeing justice served and incorporating fairness in the Indian Corporate Ecosystem. Parivesh Shukla surely will not back down without seeking justice and regaining his share in the company.

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Disclaimer: This article has been written with permission and includes details reviewed by the company’s founder. The views expressed are based on the information provided and verified at the time of publication.