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Order passed on Mayank Agrawal’s petition; court asks for fresh complaint with all partners as parties, while Commercial Court had earlier refused to restrain complaints.
Bilaspur:
In a significant development in the ongoing dispute surrounding the high-profile Fortune Elements residential project being developed by Fortune Buildcon, the Chhattisgarh High Court has cleared the way for statutory authorities to examine allegations of irregularities raised by complainant and 15 percent stakeholder Mayank Agrawal. The court directed the competent authority to decide the matter within 60 days after providing an opportunity of hearing to all affected parties.
The controversy emerged after Agrawal lodged complaints with the Bodri Nagar Parishad and several government departments, alleging violations of approved layouts, unauthorized construction, and other irregularities in the project. He also claimed that substantial loans were obtained by mortgaging project and firm assets without his consent as a partner.
High Court Moved After No Action on Complaint
According to Agrawal, he submitted a detailed complaint before the Chief Municipal Officer of Bodri Nagar Parishad on May 18, 2026, but no decision was taken on it. Consequently, he approached the High Court seeking directions for action on his complaint.
During the hearing, Fortune Buildcon objected that other partners of the firm had not been made parties to the complaint. Taking a balanced approach, the High Court directed Agrawal to submit a fresh complaint within seven days and provide copies to the concerned partners so that they could present their views.
The court further ordered that, upon receipt of the complaint, the competent authority must grant all stakeholders an opportunity to be heard and thereafter pass a reasoned order in accordance with law within 60 days.
Commercial Court Earlier Upheld Right to File Complaints
Before the High Court’s order, a Commercial Court in Nava Raipur had also delivered an important ruling in the matter. Key partners of Fortune Buildcon had sought an injunction restraining Agrawal from filing complaints before government departments, banks, and other institutions.
The applicants argued that Agrawal’s complaints were damaging the project’s reputation and affecting its progress. In response, Agrawal maintained that he had merely informed authorities about alleged irregularities, fraudulent practices, and violations of regulations, which he described as his legal right.
The Commercial Court rejected the plea, observing that an individual cannot be prevented from reporting alleged irregularities or regulatory violations to government authorities and financial institutions. The court also noted that such information could assist prospective buyers and investors in making informed decisions.
Allegations of ₹100-Crore Loan and Forged Signatures at the Centre of Dispute
One of the most contentious aspects of the dispute concerns allegations that loans worth nearly ₹100 crore were secured by mortgaging firm assets without Agrawal’s knowledge or consent. He has further alleged that his signatures were forged on certain documents and has cited a forensic report that reportedly raises questions regarding the authenticity of those signatures.
Fortune Buildcon management, however, has denied all allegations, describing them as baseless and claiming that Agrawal is attempting to disrupt the project. Agrawal, on the other hand, maintains that his efforts are aimed solely at highlighting alleged irregularities and protecting the interests of investors and stakeholders.
