MUMBAI: The city police’s economic offenses wing has submitted a chargesheet against real estate brokers Amit Bhagwan Wadhwani and Vicky Bhagwan Wadhwani, directors of Sai Estate Consultants Chembur Pvt Ltd, in relation to an alleged cheating case exceeding Rs 11 crore.
Previously, they were also implicated alongside builder Lalit Tekchandani in a Rs 3.4 crore cheating case last year.
The chargesheet is based on a complaint from Manish Tulsidas Thakkar, director of the advertising agency MAD (India) Pvt Ltd, who claims the Wadhwanis defrauded his company by failing to pay for services rendered from June 2017 to January 2024.
According to the FIR filed by the Chembur police, MAD (India) executed several advertising campaigns for Sai Estate Consultants, including large hoardings and bulk SMS promotions. The total outstanding amount exceeded Rs 17 crore, with less than Rs 6 crore paid to date.
The chargesheet indicates that when Thakkar requested the Wadhwanis to settle their debts, he faced threats and physical intimidation from bouncers at the company’s office. Amit faces charges of criminal intimidation, and the accused stated that the funds were misappropriated for personal and business expenses.
