Mumbai EOW Chargesheets Sai Estate Directors In ₹11 Crore Cheating Case

The Economic Offences Wing (EOW) of the Mumbai Police has filed a chargesheet against real estate brokers Amit Bhagwan Wadhwani and Vicky Bhagwan Wadhwani, directors of Sai Estate Consultants Chembur Pvt Ltd, in connection with an alleged cheating case involving more than Rs.11 crore.

MAD Director's Complaint Leads to Cheating Case

The case was initiated following a complaint by Manish Thakkar, director of advertising firm MAD (India) Pvt Ltd. Thakkar alleged that the Wadhwanis failed to pay for advertising services including large hoardings and SMS campaigns delivered between June 2017 and January 2024. The total dues exceeded Rs.17 crore, of which only Rs.6 crore was reportedly settled.

Chargesheet Filed By Chembur Police

According to the chargesheet filed by Chembur police, Thakkar was allegedly threatened and physically assaulted by bouncers when he approached the Sai Estate office to recover the dues. Amit Wadhwani has also been charged with criminal intimidation.

The accused reportedly confessed that the unpaid funds were diverted for personal and business-related expenses. This is not the first time the Wadhwanis have faced legal trouble both were previously booked in a Rs.3.4 crore alleged cheating case along with builder Lalit Tekchandani.