Businessman With Multiple Identities Contested 2019 Lok Sabha Polls, Campaigned With Rakhi Sawant
Mukesh Kumar, chairman and managing director of Debock Industries Ltd — a listed company under scrutiny for alleged stock market manipulation — is now at the centre of a major financial probe. Known by at least two other names, Mukesh Mahawar and Mukesh Manveer Singh, he is under investigation by both the Enforcement Directorate (ED) and the Securities and Exchange Board of India (SEBI).
The Rajasthan-based businessman, who dabbled in real estate and agricultural equipment, had also tried his hand at politics. In the 2019 Lok Sabha elections, he contested from the Tonk-Sawai Madhopur constituency on a Shiv Sena ticket. He even brought in actor Rakhi Sawant for his campaign trail, a video of which recently resurfaced showing her urging voters to support Shiv Sena’s symbol, the bow and arrow.
Authorities allege that Kumar used multiple aliases to dodge financial scrutiny, deceive investors, and obscure his true identity. According to ED sources, he is accused of artificially inflating the stock value of Debock Industries — from ₹8 to ₹153 per share in just six months — by submitting fake bank statements and manipulating financial documents. SEBI, which listed the company in 2018, uncovered these irregularities in 2024.
Kumar reportedly owns luxury cars including models from Rolls-Royce, Bentley, and Mercedes-Benz. He allegedly funneled money from rights issues abroad and invested it in real estate ventures. However, NDTV investigations found that many of his claimed assets — such as hotels and marriage gardens in Tonk district — were non-operational or existed only on paper.
His company allegedly listed junior staff as directors to mislead regulatory bodies. Searches conducted by the ED last week covered locations in Jaipur, Tonk, and Deoli. The probe may also uncover benami assets and overseas money trails.
Interestingly, the Jaipur police confirmed that a man named Mukesh Mahawar — one of Kumar’s aliases — has a criminal record with over 20 forgery cases, which were dismissed by court order in 2015.
Authorities believe Kumar’s political ambitions were an attempt to rebrand himself amid his growing financial irregularities. He lost the 2019 election, securing only 4,600 votes.
The ED’s investigation was prompted by SEBI’s damning report and Kumar’s suspicious financial activities.
News Source : Information for this article was gathered from a variety of reliable news outlets.
