Two days after a speeding Porsche driven by an allegedly inebriated 17-year-old boy collided with a motorcycle, killing two young software engineers, the Pune police have arrested five people including the minor’s father, Vishal Agarwal.
The other four include proprietors and executives of the two pubs – BLAK (in Marriott Suites) and Cosie - where the teen was allegedly served liquor.
Agarwal is a prominent real estate developer. Agarwal's family has a long-standing history in the construction business. Their firm, Brahma Corp, was founded by the minor accused's great-grandfather, Brahmadatt Agarwal.
Established as a partnership firm in 1982 by Ram Kumar Agrawal and his family members, it was reconstituted as a private limited company in March 2012 and as a public limited company with its current name in October 2013.
It is involved in real estate development of commercial and residential projects in and around Pune. The company currently has eight ongoing and three upcoming projects in Pune. It also operates two five-star hotels including Le Meridien in Mahabaleshwar and Grand Sheraton in Pune, as per a Crisil note.
Due to its established presence in the real estate industry in Pune and track record of timely delivery of projects, the company has established a strong brand in the market. Most of their projects have strong brand recall from the “Brahmacorp” name, the note added.
Vishal Agarwal reportedly owns this nearly 40-year-old company. Other key housing projects the firm's involved in include Pune's Wadgaon Sheri, Kharadi, and Viman Nagar areas.
The family also owns businesses such as Brahma Multispace and Brahma Multicon, and their construction company has built five-star hotels in Pune. The total net worth of the various companies owned by Vishal Agarwal is reportedly around Rs 601 crore, according to an Aaj Tak report.
Key financial indicators (Source: Crisil)
|
As on/for the period ended March 31 |
Unit |
2023 |
2022 |
|
Operating income |
Rs.Crore |
441.25 |
368.53 |
|
Reported profit after tax (PAT) |
Rs.Crore |
32.59 |
26.59 |
|
PAT margin |
% |
7.39 |
7.21 |
|
Adjusted debt/adjusted net worth |
Times |
1.83 |
1.79 |
|
Interest coverage |
Times |
2.46 |
2.58 |
BT could not independently verify this number. Agarwal faces charges under sections 75 and 77 of the Juvenile Justice Act for allegedly allowing his minor son to drive and consume alcohol.
The tragic accident occurred in Pune when the teenager, after consuming alcohol at two different bars, crashed his Porsche into a motorcycle in the early hours of Sunday. The collision resulted in the deaths of Aneesh Awadhiya and his friend Ashwini Koshta, both young techies. Ashwini died on the spot, while Aneesh succumbed to his injuries shortly after being admitted to a hospital.
The Pune Police are constructing a watertight case following the tragic accident. The police are reportedly not merely applying Section 304(a) of the Indian Penal Code, which deals with causing death by negligence. Instead, they are invoking Section 304, asserting that the teenager had knowledge that his reckless actions—driving a Porsche without a number plate at high speed on a narrow street after consuming alcohol—could likely cause death.
"We are confident that the forensic report will corroborate our findings, but even if it does not, our focus is on proving culpable homicide not amounting to murder, based on the knowledge of the consequences of his actions," a top official investigating the case told a news channel.
The teen had reportedly claimed addiction to alcohol in his bail plea. The police remain optimistic about their case, aiming to have the teenager remanded until their application to try him as an adult is decided.