Mumbai: Economic Offence Wing (EOW) has initiated a preliminary enquiry against Kashiff Khan , managing director of Fashion TV, based on a complaint filed by Indus Lexus Consulting Pvt Ltd , which represents Fashion TV in India, alleging fraud and cheating amounting to Rs 142 crore. According to the complaint filed by Yogesh Radhakrishnan, who took over Indus Lexus from Micheal Adam, Khan sold franchisees of Fashion TV to investors and duped them of their money. Khan ignored communications and instructions from Indus Lexus’ representatives to audit his books and failed to pay monthly invoices for minimum guarantee and royalty fees, which are in accordance with agreements signed between Indus Lexus, Adam, and Khan from Nov 2022 to March 2023, it claimed.
Khan denied the allegations: “India Lexus is trying to mislead. It has no authority to lodge a complaint against me as the firm has sacked Radhakrishnan.” He said he was unable to appear before police due to his travel schedule.
Police recorded Khan’s statement last week and are likely to summon him again. — S Ahmed Ali.
