Investors based in Bengaluru who were associated with the car service platform Go Mechanics have officially filed a First Information Report (FIR) with the Economic Offences Wing (EoW) of the Delhi police.

In this report, they have named the company's founders, namely Amit Bhasin, Kushal Karwa, Rishabh Karwa, Nitin Rana, and other senior officials of criminal conspiracy, fraud, document forgery, cheating, and the falsification of financial records.

The complainants, acting on behalf of three venture capitalists who collectively invested over Rs 211 crore in Go Mechanics between 2017 and 2021, namely SCI Investments, Orios, and Chiratae Ventures, have informed the authorities of a recent discovery.

They claim that the accused individuals manipulated and falsified the company's financial records and accounts, which were presented to the investors in an attempt to deceitfully and fraudulently induce them into investing in the company during the 2017-2021 period.

The complainants have further alleged that the founders made confessions regarding the manipulation of the company's financial records. They are requesting a thorough police investigation to determine the extent to which these records were fabricated and falsified.

Additionally, the investors assert that instead of utilising the investment of over Rs 211 crore for legitimate business activities, the founders, in their roles as directors, agents, and employees of the company, misused their authority to commit a criminal breach of trust. They diverted and siphoned off funds for personal use.

The complainants also accused the directors of forging bank accounts and records to conceal the company's actual financial situation from the investors.

According to the FIR, the company had outstanding debt obligations amounting to Rs 78.63 crore to financial creditors, with additional obligations, including statutory dues, totalling Rs 6.91 crore.

The police have reported that the complainants provided them with a trail of emails that substantiated the claim that the company manipulated its financial data. An investigation is currently underway to verify all these allegations.