Mumbai Crime: Khar Police Book Former Film Production Accounts Employee For ₹46.24 Lakh GST Fraud

Mumbai, Dec 25: The Khar police have registered a case against a former accounts employee of Excel Entertainment for allegedly misappropriating ₹46.24 lakh by failing to deposit Goods and Services Tax collected on behalf of the complainant, Vishal Ramchandani (39). Ramchandani is the chief executive officer of the film production company, whose directors include actor-filmmakers Farhan Akhtar and Ritesh Sidhwani.

Accused Entrusted With Company and Personal GST Payments

According to the FIR, Excel Entertainment operates from Khar West, and Ramchandani has been associated with the company since 2008. The accused, Bhagwan Kaskar Kaskar, who earlier worked in the company’s accounts department, was responsible for handling GST payments for some employees and was also entrusted with paying Ramchandani’s personal GST from 2017 onwards.

Rs 56 Lakh Transferred for GST Deposits

Ramchandani transferred funds in instalments through NEFT from his Standard Chartered Bank account to Kaskar’s Union Bank of India account. Between 2018 and October 2024, a total of ₹56 lakh was transferred to the accused for GST payments.

Fraud Detected During Internal Review

The fraud came to light in 2024 when the company’s chief financial officer, Jaswantsingh Hinduja, informed Ramchandani that his GST payments were not being deposited on time. A verification of GST portal records revealed that only ₹9.75 lakh had been deposited with the government, while the remaining ₹46.24 lakh was allegedly siphoned off by Kaskar for personal use.

Accused Allegedly Admitted Misappropriation

On October 4, 2024, during a meeting, Kaskar allegedly admitted to the misappropriation and gave a written confession. He also handed over five cheques drawn on HDFC Bank towards repayment but later repeatedly requested that the cheques not be deposited. By the end of October, only ₹2 lakh had been repaid, police said.

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Loss Rises Due to Interest and Penalties

The complaint further states that interest and penalties on the unpaid GST have pushed the total loss to around ₹65.82 lakh. An FIR was registered on December 24 for criminal breach of trust and cheating, and further investigation is underway.

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