Mansa Group director Krishnakumar Sitaram Agrawal, of Sydney NSW, has been sentenced to a total term of imprisonment of four years and ten months, with a non-parole period of three years and three months, for forgery and dishonesty offences following an ASIC investigation.
On 7 November 2025, the District Court of NSW sentenced Mr Agrawal to prison terms of:
- three years and three months for using false documents to obtain a financial advantage, contrary to the Crimes Act 1900 (NSW), and
- three years and ten months for dishonestly using his position as a director with the intention to gain advantage and cause detriment, contrary to the Corporations Act 2001 (Cth).
Mr Agrawal's prison term commenced on 7 November 2025. He will not be eligible for parole before 6 February 2029.
ASIC Deputy Chair Sarah Court said, 'Mr Agrawal betrayed the trust of people within his social and cultural circles.
'This sentence will be welcomed by those who invested significant amounts of money with Mr Agrawal after being caught up in his dishonest behaviour', the Deputy Chair said.
Mr Agrawal is the current and former director of 27 companies collectively known as the Mansa Group, which is now in liquidation.
Between 2017 and 2023, Mr Agrawal removed directors and shareholders of corporations within the Mansa Group, which he controlled, without their knowledge. He also applied for and obtained loans from third party lenders to the value of over $20 million dollars on that basis and/or with the use of false documents and used the loans for the benefit of other corporations which he controlled.
This conviction follows previous action by ASIC to secure travel restraints against Mr Agrawal and his wife following the collapse of the Mansa Group (24-056MR).
This matter was prosecuted by the Office of the Director of Public Prosecutions (Cth) (CDPP) following an ASIC investigation.
Background
A further offence contrary to the Corporations Act 2001 (Cth) was taken into account on sentence on a schedule pursuant to the Crimes Act 1914 (Cth).
The companies in the Mansa Group are currently in either voluntary administration or liquidation.
The Mansa Group companies were used for the funding, acquisition and development of property in Sydney's west.
Liquidators, Michael Billingsley and Mohammad Mansoor of Olvera Advisors, are appointed to Mansa Sons Pty Ltd, Dawn Enterprise Pty Ltd, Tvesa Investments Pty Ltd, Siddhi Services Pty Ltd, and Patidar Group Pty Ltd.
Liquidators, Shumit Banerjee and Rajiv Ghedia of Westburn Advisory, are appointed to Pramukham Enterprises Pty Ltd, SK Homes Aus Pty Ltd, SKTM Capital Pty Ltd, SKTM Capital Pty Ltd, TKA Investments Pty Ltd, and SK Capital Pty Ltd.
Liquidators, Martin Walsh of Walsh & Associates, are appointed to SK Homes Pty Ltd.
Liquidators, Simon Cathro and Declan Lane of Cathro & Partners, are appointed to Samarpan Investments Pty Ltd, Sahyog Developers Pty Ltd, and United Capital Australia Pty Ltd.
