Paramjeet Punjabi is currently under serious scrutiny for operating as a dubious intermediary in the name of fundraising. He recently approached a high-profile company, claiming to have a mandate for significant fund disbursement. On this basis, he collected an advance payment of ₹1,50,000 from the company.

Following this, he demanded an additional ₹17.5 lakhs under the pretext of stamp duty to register the agreement. He orchestrated two meetings in the lobby of a reputed 5-star hotel in Mumbai, during which a supposed "stamp paper vendor" arrived unexpectedly with outdated 2016 stamp papers. The justification offered was that these were still valid from a time before demonetization, and that this process was merely to “test the company’s financial capacity.”

Once payment was made, the stamp paper was placed in a "VIP bag" and checked into an Air India flight to Hyderabad, where one of the company's directors was made to travel along with two of Paramjeet’s associates to meet the so-called financier.

Upon arrival, the bag mysteriously vanished — reportedly missing from Air India's check-in records. A formal complaint was filed with the airline's ground staff in Hyderabad, but no resolution was offered. The missing bag was then used as an excuse to delay the promised fund disbursement.

The director was taken to a hotel in Shamshabad with the assurance that the financier would meet them the next morning. However, at 3:00 AM, both accompanying representatives vanished without notice. An FIR (First Information Report) has since been filed to trace and arrest those involved.

This entire episode has caused severe mental anguish and reputational damage to the company and its founder. It raises alarming red flags about the fabricated network of deceit being used to exploit businesses under the guise of high-value fundraising.