Bogus Loan Scam: SC Slams Surat Cricket Boss Kanhaiya Contractor

Surat, Gujarat – In a severe blow to Surat District Cricket Association (SDCA) President Kanhaiya Contractor, the Supreme Court has ordered him to immediately repay a ₹2.92 crore bank loan fraudulently obtained using a bogus power of attorney — or face jail time.

The apex court, hearing Contractor’s anticipatory bail plea on Tuesday, gave a strict directive: “Pay the entire outstanding amount within six weeks or be ready to go to jail.” The order was passed by a division bench of Justice Asanuddin Amanullah and Justice S.V.N. Bhatti.

Contractor, 82, is accused of forging the signatures of his deceased cousin and former SDCA president Hemantbhai Contractor and sister-in-law Nayanaben Contractor to create a fake power of attorney. He then used it to mortgage family firm properties to Bajaj Finance and secure a ₹2.92 crore loan — without their consent or knowledge.

The fraud came to light when the repayments defaulted, prompting Nayanaben Contractor to file a complaint with the Surat Economic Offences Cell (EOC). “He not only misused family trust but tried to escape justice on health and age grounds,” said senior counsel Hujefa A. Ahmadi, representing Nayanaben Contractor. “We’re thankful that the court has taken a firm stand.”

The Gujarat High Court had earlier rejected Kanhaiya Contractor’s anticipatory bail plea, observing that the prima facie evidence indicated serious criminal wrongdoing. The High Court gave him four weeks to appeal in the Supreme Court, which led to the current hearing.

The Supreme Court, while acknowledging Contractor’s advanced age and health issues, dismissed those as insufficient grounds to grant protection from arrest. “These are not acceptable reasons in a case involving calculated and high-value fraud,” the bench stated firmly.

The complainant’s lawyers, including Pradyuman Gohil and Taruna Gohil, argued that the accused was attempting to delay justice by hiding behind legal technicalities. The court agreed and ruled that repayment of the full amount is the minimum accountability.

The ruling has sent ripples through the cricket and business community in Surat. “This case proves that even those in powerful positions can’t escape the law,” said a senior member of the SDCA on condition of anonymity.

The next six weeks will be crucial for Kanhaiya Contractor — repay the ₹2.92 crore or face arrest and likely imprisonment.