Vaishali Hotel owner’s son-in-law arrested for ₹5 crore fraud

Jadhav, who is the son-in-law of the late Jagannath Shetty, the owner of the renowned Vaishali Hotel, allegedly conspired with other accused Ravi Pardeshi and Rajesh Choudhary in this case

The Economic Offenses Wing (EOW) on Friday arrested Vishwajit Vinayakrao Jadhav for allegedly fraudulently securing ₹5 crore loan by mortgaging a flat owned by his wife Nikita Shetty. The complaint in this case was filed by Shetty, and according to the police, the incident occurred between December 2022 and October 2023. Following his arrest, Jadhav was remanded in police custody until Sunday.

Police claimed that the Bombay High Court had earlier rejected anticipatory bail pleas of the accused following which Jadhav was arrested on Friday. (REPRESENTATIVE PIC)

Jadhav, who is the son-in-law of the late Jagannath Shetty, the owner of the renowned Vaishali Hotel, allegedly conspired with other accused Ravi Pardeshi and Rajesh Choudhary in this case.

Police said that, without the consent of his wife, Jadhav allegedly forged her signatures on loan application forms and supporting documents to obtain a loan from the Bank. He allegedly used fake stamps to create fraudulent property documents and mortgaged Shetty’s flat with the bank.

Police claimed that the Bombay High Court had earlier rejected anticipatory bail pleas of the accused following which Jadhav was arrested on Friday. However, a search for the other accused is going on.