Mumbai: 'Idly Guru' Founder Karthik B Shetty Booked For Defrauding Filmmaker From Andheri Of ₹28 Lakhs In Franchise Scam

Mumbai: Karthik B Shetty, the founder of ‘Idly Guru,’ has been booked by the Oshiwara Police for allegedly defrauding a filmmaker of Rs. 28 lakhs under the pretext of providing a franchise of Idly Guru.

According to the police, the complainant, Aditya Kapur, a filmmaker from Andheri, first learned about the franchise offer in January when he visited the Idly Guru restaurant. Kapur then asked his father, who resides in West Bengal, to contact the number mentioned at the restaurant.

The response, via text, directed Kapur's father to Karthik, the CEO of Idly Guru. Although Kapur's father initially wanted to open the franchise in Kolkata, Karthik declined and instead offered a franchise opportunity in Mumbai.

After extensive discussions, Kapur and his father met with Karthik and his wife, Manjula Shetty, at Versova to further discuss the franchise. During the meeting, Karthik allegedly stated that setting up a franchise would require a payment of Rs. 28-30 lakhs. In a follow-up meeting, as planned, Kapur and his father paid Rs. 20 lakhs for the franchise and an additional Rs. 3.6 lakhs for Goods and Services Tax (GST).

Kapur finalised a rented space for the shop on New Link Road, Oshiwara in Jogeshwari, and a few days later, they signed the franchise agreement. On various pretexts, including shop repairs, Kapur ended up paying a total of Rs. 28.6 lakhs to Karthik.

However, when it was time for Karthik to fulfil his financial obligations as per the agreement, he stopped responding to Kapur's calls and messages. Concerned, Kapur searched Karthik’s name online and discovered that Karthik, his wife, and his father had multiple fraud cases against them related to Idly Guru and its franchises. In March, Karthik met with Kapur, claimed that the criminal cases against him were false, and issued a cheque for Rs. 5 lakhs, which later bounced when Kapur deposited it in the bank.

Kapur later approached the Oshiwara police and filed an FIR against Karthik B Shetty, accusing him of cheating, criminal breach of trust, and other charges under the Indian Penal Code. Shetty had previously been arrested by the Bangalore police in February, with over 10 similar fraud cases registered against him.