Rakshit Shetty business partners under criminal investigation for fraud, forgery.
Rcently, an FIR was registered against Kannada actor-filmmaker Rakshit Shetty over alleged “unauthorised usage” of a music company’s two songs in his movie “Bachelor Party’, according to various media sources. Furthermore, Rakshit Shetty faces a suit and has applied for anticipatory bail, to avoid arrest.
Rakshit runs Paramvah Studios, a Bengaluru-based production company, whose 50% shareholder is Sunland Projects Pvt Ltd, according to filings.
Paramvah Studios which was co-founded by both Rakshit Shetty and the late Govind Sahai Gupta, according to Paramvahs official website.
Paramvah Studios, as per to Zauba Corp, has three directors: Rakshit Shetty, Vivek Agarwal and Subhash Chandra Khandelwal.
The latter two, Vivek and Subhash, are also facing a criminal investigation for fraud, forgery and accounts manipulation. Subhash Chandra Khandelwal is also a director at Sunland Projects, which owns 50% of Paramvah.
Kolkata Police lodged an FIR on December 22, 2023 at Rabindra Sarobar Police Station, accusing Amit Gupta, Sunlands promoter, son of Paramvah co-founder Govind Sahai Gupta, of “fraudulent share transfer” of 1,510,000 shares, “forging and manipulating records,” and “illegally striking off” a loan of Rs 9,95,64,143 from Sunland Projects Pvt Ltd, conspiring with co-accusers, including Vivek Agarwal and Subhash Chandra Khandelwal.
According to the Sydney Morning Herald, “The US documents name Getax director Amit Gupta as the ‘target of a criminal investigation who is alleged to have conspired with others to bribe foreign public officials and to have engaged in money laundering and other offences’.”
The recent development of Rakshit Shettys involvement in a copyright violations case followed by the anticipatory bail filing, with widespread coverage across the country, plus his and Paramvah Studios direct integration with controversial businessman Amit Gupta, and the criminal investigation of two of Paramvahs directors raises serious concerns as to Rakshits business practices and shady associations as it comes under further scrutiny by the public and legal authorities.
