The Additional Sessions Court in Khed Rajgurunagar, Pune, has directed a reinvestigation into a 2017 abetment to suicide case against industrialist Amit Kalyani, vice chairman and joint managing director of Bharat Forge.
This overturns the earlier closure by the Economic Offences Wing (EOW), whose report clearing Kalyani had been accepted by a trial court.
Case Background
The case centers on Nilesh Gaikwad, assistant manager at Kalyani Technoforge Ltd (KTFL), who died by suicide in August 2017. In an 11-page note, Gaikwad claimed he had handed over Rs 15 crore to Kalyani, expecting a Rs 60 lakh commission, which was never paid. He alleged intense pressure from auditors after the money wasn’t returned, driving him to end his life.
Following his death, Gaikwad’s brother filed an FIR for abetment to suicide. Soon after, KTFL’s then CEO accused Gaikwad of embezzling Rs 8.72 crore. This prompted the case’s transfer to the EOW, which later filed a closure report deeming the allegations baseless.
Challenge To Closure
Gaikwad’s family contested the closure, accusing the investigation of bias and incomplete inquiry. They argued the trial court’s acceptance of the closure report was unjust and overlooked key evidence.
Represented by advocate Hrishikesh Subhedar, they raised concerns including the failure to question important witnesses, unexplained financial irregularities, absence of audits on suspicious transactions, and Kalyani’s prolonged absence abroad after the incident.
Court’s Decision
Additional Sessions Judge AS Sayyad rejected the EOW’s closure report, ordering a fresh probe. The judge highlighted that the investigation neglected vital aspects, including allegations from Gaikwad’s suicide note. “The investigating officer is duty bound to explore all angles and verify facts thoroughly,” the court observed.
The judge also stated that reopening the investigation would not harm either side and instructed police to examine all issues — including bank alerts, audit trails, attendance records, and the timeline before the suicide.
Response From Amit Kalyani’s Counsel
Kalyani’s lawyer said, “Our client is reviewing the order and will pursue remedies as per law. There is no allegation against him in the order. The report seems flawed and appears to be an attempt to harass and malign him.” The counsel added that an accountant involved in financial misconduct was already charged by the police.
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