Bollywood mogul Farhan Akhtar’s production company, Excel Entertainment, has been rocked by a shocking financial scandal. Bhagwan Kaskar, a former accountant at the firm, has been booked for allegedly misappropriating ₹65 lakh meant for Goods and Services Tax (GST) payments. The alleged fraud not only exposes a major breach of trust within the company but also raises questions about internal financial controls at one of India’s leading film production houses.
 
According to police reports, Kaskar, who handled GST filings for both the company and CEO Vishal Ramchandani’s personal taxes, continued to manage payments even after leaving the firm in 2021. Ramchandani had transferred substantial sums in instalments to Kaskar’s account for his personal GST dues, trusting him to make timely payments. However, discrepancies surfaced in 2024 when the firm’s CFO, Jaswant Singh Hinduja, noticed pending payments and questioned Kaskar.
 
An investigation revealed that only ₹9.75 lakh out of the ₹56 lakh transferred had actually been deposited with the government between 2018 and October 2024. Kaskar allegedly admitted to depositing a fraction of the funds and using the rest for personal expenses. Despite promising repayment, he transferred only ₹2 lakh and repeatedly delayed returning the remaining amount. With interest, penalties, and unpaid taxes, the total GST liability has now ballooned to around ₹65 lakh.
 
Following multiple broken promises, Ramchandani approached the police, leading to a case being registered against Kaskar under Sections 316(2) (cheating) and 318(2) (criminal breach of trust) of the Bharatiya Nyaya Sanhita. The case has sent shockwaves through Bollywood, highlighting the critical importance of financial oversight, even in high-profile production houses.