Payal Farsan Scam: Alleged Fraud of Rs. 1.83 Crore in 50% Partnership

The owner of the Payal Farsan shop in the city, father-son duo, offered a tempting deal to the consultant of Vasna Road’s business, promising a profit of Rs. 15-20 lakhs if he became a 50% partner in their business. A whopping Rs. 1.86 crore was deposited for this. However, they threatened to cancel the deal if the consultant didn’t agree, mentioning they could pursue the deal independently. The consultant had requested Rs. 3.67 lakhs per month previously but had only received Rs. 1.83 crores, leaving the rest unpaid. The Gotri Police noted the threat and took action.

Alleged Fraud and Legal Proceedings

Ashok Thakkar, residing in Shreekunj Shil Banglows on Vasna Road, operates a consultancy called Raka Enterprises Pvt. Ltd. He filed a complaint at the Gotri Police Station alleging that in 2015, he had met Kamal Bhailal Thakkar and his son Parit Thakkar regarding Kamal and Parit’s shop named Payal Farsan in Vadodara. They were planning to expand the Payal Farsan business in Vadodara and Gujarat, offering partnership shares. Initially, Ashok Thakkar invested Rs. 22 lakhs. Later in 2016, a deed of partnership was prepared, with Ashok Thakkar and his relatives Mukesh Thakkar and Nehal Kariya each getting a 50% share.

Disputed Partnership and Financial Loss

Ashok Thakkar and his relatives invested a total of Rs. 1.86 crores for a partnership in the Farsan business. When they asked for documentation, Kamal Thakkar and his son Parit only provided verbal assurances. Despite requesting Rs. 3.67 lakhs previously, they only received partial payments. When asked for the remaining amount, they were threatened that they wouldn’t get any money back. Thus, a letter was sent to Payal Farsan demanding the outstanding balance, which remained unpaid, leading to further threats of legal action.