Overview
- Khar police registered an FIR on December 24 for criminal breach of trust and cheating under the Bharatiya Nyaya Sanhita, and the investigation is ongoing.
- The accused, identified as Bhagwan Kaskar, handled GST filings for CEO Vishal Ramchandani from around 2017, left the company in 2021, and continued managing his payments afterward.
- Between 2018 and October 2024, Ramchandani transferred about ₹56 lakh via NEFT from his Standard Chartered account to Kaskar’s Union Bank account, of which only ₹9.75 lakh was deposited with the government.
- Police say Kaskar allegedly gave a written confession on October 4, 2024, issued HDFC Bank cheques toward repayment, and repaid ₹2 lakh before asking that the cheques not be deposited.
- Excel Entertainment, a Mumbai film production company whose directors include Farhan Akhtar and Ritesh Sidhwani, is not accused in the case.