Mumbai: EOW To Issue LOC Against Luxury Interior Designer Krish Kothari For Alleged Criminal Breach Of Trust

Mumbai: EOW To Issue LOC Against Luxury Interior Designer Krish Kothari For Alleged Criminal Breach Of Trust

The case revolves around a high-profile transaction where Kothari allegedly charged Rs19 crore from a Worli-based businessman and his wife.

Vishal SinghUpdated: Saturday, March 02, 2024, 10:25 PM IST
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The Mumbai Police’s Economic Offences Wing (EOW) is investigating an alleged case of criminal breach of trust involving a luxury interior designer. The EOW is considering issuing a lookout circular against Krish Kothari, who holds a British passport.

Details of case

The case revolves around a high-profile transaction where Kothari allegedly charged Rs19 crore from a Worli-based businessman, Madhav Prasad Satyanarayan Agarwal, and his wife Sushma Madhav Prasad Agarwal. The couple had engaged Kothari to design their luxury flat in Oberoi Three Sixty West, with a promise of using premium materials sourced from Milan and Amsterdam.

However, the Agarwal family discovered that the materials were of subpar quality, deviating from the initially agreed-upon standards. Allegations include incomplete work and discrepancies between the promised design and the actual execution. Notably, Kothari had presented samples of marble and furniture from foreign brands and assured the Agarwals that all expenses would be billed accordingly.

Timeline of events

The timeline of events reveals that the Agarwal family, initially represented by Ishita Agarwal, had entered into an agreement with Kothari in April 2022. Subsequent to this, Kothari took Ishita and her sister Priyanka on trips to Milan and Amsterdam to inspect the proposed materials, with the travel expenses covered by the complainant company.

By September 2022, Kothari submitted a bill of around Rs20 crore, detailing the quality and quantity of the materials. He promised to complete the work by June 2023, with a penalty of Rs16 lakh per month for any delays. However, as time progressed, Kothari allegedly sought extensions, citing customisation challenges and large orders.

The situation came to a head in June, when Madhav visited the flat and discovered discrepancies in material quality, design, and incomplete work. It was revealed that Kothari had returned approximately Rs1.28 crore, but a significant amount of Rs5.19 crore remained unaccounted for. A complaint was subsequently lodged by Ashutosh Sharma, a project head at Fujizakura Private Limited, on behalf of the Agarwal family.

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