₹3.48 Crore Investment Scam Busted in Pune
• Atmanirbhar Concepts India Under EOW Scanner
• Directors Abscond After Crores Vanish
Unmesh Gujarathi
Sprouts News Network
Contact: +91 9322755098
Atmanirbhar Concepts India is under investigation by Pune Police’s Economic Offences Wing for allegedly duping 43 investors of ₹3.48 crore with false promises of high returns. The accused directors have fled, and offices are shut. Police have urged more victims to come forward. Sprouts SIT continues tracking the multi-city fraud.
A large-scale financial scam involving ₹3.48 crore has come to light, with 43 investors filing official complaints against Atmanirbhar Concepts India, a company that allegedly lured victims with promises of 8–9% monthly returns. The Pune Police Economic Offences Wing (EOW) is investigating the case, which spans multiple cities including Mumbai, Thane, and Delhi.
The complaint was first registered in May 2024 at Bund Garden Police Station, and the scam is now being recognized as one of the most deceptive financial frauds targeting small-to-medium investors in recent times. The main accused have been identified as Kush Chaturvedi (45), Rachana Harish Shringhe (70), Manjusha Shashikant Kshirsagar (50), and Shashikant Balkrishna Kshirsagar (55).
Modus Operandi: Promised High Returns, Delivered Bounced Cheques
Sprouts SIT Uncovers Multi-Business Investment Trap in Pune and Beyond
Speaking to the Sprouts News Investigation Team (SIT), police sources confirmed that the accused lured victims by launching various shell ventures under the Atmanirbhar Concepts India brand — including a pharmaceutical company, a supermarket, and a travel business. Investors were promised 8–9% monthly returns on capital, and some initial payments were made to create trust.
One of the first complainants, a resident of Yerawada, stated that he and his wife invested ₹4.80 lakh in November 2022. The company paid returns totaling ₹54,425 until May 2023. Later, citing an internal audit, they delayed payouts and eventually issued post-dated cheques — all of which bounced. After the fraud was exposed in May 2024, all four accused absconded.
“The fraud was well-planned. It appeared like a legitimate business expansion with physical offices, but everything was a front,” a police official told Sprouts SIT.
Also Read: Fake Awards Used to Mislead Investors: Scamsters Felicitated Publicly.
• Multiple Offices Shut, Directors on the Run
EOW Sends Alerts Across Maharashtra and Delhi
The Economic Offences Wing has discovered that Atmanirbhar Concepts India had offices in Haryana (head office) and a temporary branch near Pune Railway Station to attract local investors. After the scam surfaced, all office locations were found locked and abandoned. Employees connected to the scheme are also absconding.
“We have issued notices to other districts including Mumbai, Thane, and Delhi to trace more victims and gather evidence,” said Assistant Police Inspector Sagar Janrao from the EOW. He confirmed that 43 official complaints have been filed, but the actual number of victims is likely higher.
“The accused floated multiple startups only on paper to gain public confidence. We appeal to anyone who has been cheated to contact the EOW immediately,” Janrao added.
Sprouts SIT Demand for Action: Stronger Checks on Unregulated Investment Schemes
Public Awareness Needed to Curb Recurring Financial Frauds
This case, as investigated by Sprouts News Investigation Team (SIT), exposes a dangerous pattern of pseudo-entrepreneurial frauds targeting middle-class investors with promises of steady returns. With SEBI and MCA cracking down on similar Ponzi-style schemes, experts stress the need for better public education and legal awareness.
Sprouts SIT urges authorities to fast-track the investigation and ensure justice for the victims. The need for regulatory vigilance and a public red-flag system for unregistered financial schemes is more urgent than ever.
