Ahmedabad, India – A shocking case of alleged financial misconduct has surfaced in Gujarat, where a city-based contractor has been accused of orchestrating a ₹1.04 crore scrap fraud involving dealings connected to the Ambani business network.

According to initial reports, the contractor allegedly manipulated scrap material sales and procurement records to siphon funds. The fraudulent transactions reportedly took place over several months, exploiting gaps in verification and payment processes.

Sources suggest the scam came to light during an internal audit, which revealed discrepancies in inventory records and payment receipts. Authorities are now investigating whether forged documents and inflated invoices were used to execute the scheme.

The alleged link to Ambani’s business dealings has drawn significant public attention, though officials have clarified that the investigation is focused on the contractor’s misuse of business associations rather than direct involvement of the corporate group.

Police have registered a case under sections related to cheating, criminal breach of trust, and forgery. Investigators are also examining bank records, vendor contracts, and scrap sales data to trace the money trail.

If proven guilty, the accused could face severe penalties, including imprisonment, under India’s fraud and corporate crime laws.

This case adds to the growing list of high-value fraud investigations in the state, highlighting the urgent need for tighter oversight in large-scale business transactions.