Toronto Desi news: Gurdwara loans scandal, Canada-India finance summit
Two significant stories have emerged from Toronto's South Asian community in recent weeks: a complex financial and legal crisis centred on two prominent Sikh Gurdwaras and a former federal politician, and a landmark diplomatic moment as Canada and India held their inaugural Finance Ministers' Economic and Financial Dialogue in the city. Together, they illustrate the growing civic, legal, and political weight of the Desi community in the Greater Toronto Area — from the courts to the international stage. For Toronto's hundreds of thousands of South Asian residents, both stories carry deep resonance about community institutions, accountability, and the rising global profile of the India-Canada relationship at a pivotal economic moment. The GTA's Sikh, Tamil, and broader South Asian communities continue to shape public life well beyond their neighbourhoods.
Former MP Raj Grewal sued over $15M in loans secured by two GTA Gurdwaras
Two prominent Sikh institutions — the Sikh Spiritual Centre Toronto (Etobicoke Gurdwara) and Nanaksar Gurdwara in Brampton — have been drawn into a serious financial scandal involving former Brampton MP and Mississauga-based lawyer Raj Grewal. According to court documents filed September 4, two Hamilton-based private lenders, SSMT Management Inc. and Oculus Mortgage GP Inc., provided $15 million in loans that Grewal personally guaranteed, with both Gurdwaras pledged as collateral. At the time of borrowing, Grewal, his companies, and family members were reportedly more than $200 million in total debt. The 24-percent interest rate required $300,000 in monthly interest-only payments; since May, more than $1.5 million in interest has gone unpaid. Also named as defendants are Amarjit Singh Deol, president of both Gurdwaras, and Gurmail Singh Nirman, treasurer and director of the Sikh Spiritual Centre Toronto. A separate case involving counterfeit cheques at RSG Law — the firm Grewal founded — included a $250,000 wire transfer from the firm trust account to the Sikh Spiritual Centre Toronto in April. Community leaders have raised questions about how Gurdwara assets became entangled in the transactions, and whether members' donated property was put at risk. Grewal's lawyer claimed the matter is resolved; the lawsuit remained active as of mid-September 2026. The case raises broader questions about governance and financial transparency in diaspora religious institutions. [2]
Canada and India launch inaugural finance ministers' economic dialogue in Toronto
Finance Minister François-Philippe Champagne and Indian Finance Minister Nirmala Sitharaman met in Toronto on August 27, 2026, for the "Inaugural Finance Ministers' Economic and Financial Dialogue" — a historic first in the bilateral relationship between the two countries. The formal dialogue focused on economic development, financial sector cooperation, and shared international priorities, according to the office of the Canadian finance minister. A joint media availability followed the morning session, and the two ministers later participated in an on-stage conversation about advancing their nations' shared economic interests. The gathering came just two days after Champagne announced plans to roll out dollar-for-dollar countertariffs on American goods, underscoring Canada's push to diversify its economic partnerships. Toronto, home to one of the world's largest South Asian diasporas and Canada's financial capital, provided both a symbolic and practical backdrop for the summit. For the Desi community in the GTA, Sitharaman's visit to Toronto carried particular significance — a direct recognition of India's economic stature and of the community's role in strengthening Canada-India ties at the highest levels. Canadian and Indian officials have framed the inaugural dialogue as the beginning of a sustained, structured economic engagement between the two countries, with further rounds expected in coming years. Observers noted that Toronto's large South Asian business and professional community stands to benefit directly from deeper Canada-India financial integration in sectors such as technology, real estate investment, and skilled immigration. [5]
Sources: [2] The Pointer · [5] iPolitics