Motilal Oswal Financial Services Ltd. Under Fire
• MOFSL Scandal: Fake ICC, Real Crimes
• MOFSL Harassment Saga Rocks Corporate India
Unmesh Gujarathi
Sprouts News Exclusive
Contact: +91 9322755098
Sprouts News Exclusive
Contact: +91 9322755098
Unmesh Gujarathi, Editor-in-Chief of Sprouts News, has written this exclusive investigation exposing MOFSL’s fake ICC, legal manipulation, and counter-blast harassment cover-up. The report reveals serious judicial concerns and demands urgent institutional action to protect employee rights and uphold the law.
Contents
Motilal Oswal Financial Services Ltd. Under Fire• MOFSL Scandal: Fake ICC, Real Crimes• MOFSL Harassment Saga Rocks Corporate IndiaBombay High Court Must Reconsider MOFSL’s Legal Protections: Activists Demand PILsPolice Statements Concealed; Woman Denied Due ProcessSenior MOFSL Executive Sent Facebook Request After Recording Sexual Shaming Police StatementSalary Withheld, Food Rights Curtailed: Discrimination ContinuesCommittee Members Changed, Police Officers Removed, Secrets BuriedChargesheet Discrepancies, Witness Manipulation, and Email Evidence IgnoredTermination Timeline Manipulated, Exit Interview ForgedLeadership Rift & Corporate Fallout & FIR ExposureAlso Read: SBI Flags RCom Loan as Fraud: Anil Ambani Named in Scandal.Related Article: Motilal Oswal Faces Shock Verdict as HC Slams Delay & Demands Apology.Sprouts SIT Calls for Urgent Institutional Intervention
Bombay High Court Must Reconsider MOFSL’s Legal Protections: Activists Demand PILs
Legal experts and women’s rights activists are urging the Bombay High Court to revoke any ad-interim or arrest related protections granted (if any) to employees of Motilal Oswal Financial Services Ltd. (MOFSL), following serious revelations of sexual defamation & sexual shaming, counter-blast harassment cover-up, and abuse of legal process. The Sprouts News Investigation Team (SIT) has unearthed documented evidence that MOFSL’s executives demanded the obstruction of police investigations, while manipulating internal and legal procedures to protect the men booked in a 509 FIR.
The complainant, a woman Ex-AVP, wrote an email to the President of India & received a response from Gautam Kumar (Under Secretary – President’s Secretariat) at Raashtrapati Bhavan – Who on behalf of the President, sent the matter to the CS MH. The woman also wrote an email to the office of JCP L&O Vishwaas Naangre Patil, whose office later sent the matter to Zone 5 DCP Pranaya Ashok.
CP Vivek Phansalkar assured her 3 years ago over a call personally that action will be taken. She met Zone 5 DCP Manoj Patil 2 dozen times over a 1 year period. All of these individuals acknowledged the seriousness of the matter. She also wrote an email to the CMO Tapaal & did receive an acknowledgement number. This was then forwarded to the Home Department by the MH Government.
Police Statements Concealed; Woman Denied Due Process
The woman was not even made aware of MOFSL’s sexual police statements recorded against her, for 19 long months. Certainly not until she was given the chargesheet.
She received no clarity on employee policies & separation protocols, despite she categorically asking for it. Repeated requests for access to grievance redressal cell & related mechanisms were ignored. Her suspension was carried out without recording her version, violating basic principles of natural justice.
Notably, MOFSL chose not to inform her of the Internal Compliance Committee’s structure. That remains different from an Internal Complaints Committee. No NGO member met her. Employee rights were not shown to her. She was never given information on the functioning of the committee/past such cases/proceedings/workshops/awareness details etc.
MOFSL did not even want her to have a face-to-face committee hearing. She was initially invited for Zoom video call meetings, which was within 1 day of police & media involvement – An unusual move. Even her official work laptop access was denied to her during the fake committee hearings, despite her formal requests.
Senior MOFSL Executive Sent Facebook Request After Recording Sexual Shaming Police Statement
In a disturbing twist, MOFSL Senior VP Vijay Agarwal, who recorded sexual discomfort statements with the police after her suspension, went on to send her a Facebook friend request – Highlighting the deeply contradictory and manipulative behavior of the man booked in the FIR.
This falls squarely into the nation-wide corporate pattern where survivors of sexual crimes are routinely sued and discredited by employers, rather than being offered support. Media in the past has written about this dangerous, predictable, standard trend women face when they talk about their experiences.
The Sprouts SIT has verified that MOFSL tried to influence over 25 media houses to suppress this story for 3 years. Questions remain over why HR Executive Anuksha Hegde and CHRO/Executive Director/Board Member Sudhir Dhar were suddenly fired. Notably, Sudhir Dhar had been with MOFSL for 17 years and has been booked in the chargesheet. MOFSL now has a new CHRO. Why ?
Salary Withheld, Food Rights Curtailed: Discrimination Continues
After the unlawful suspension, MOFSL reportedly withheld her salary, placing her under further financial stress. This was despite she begging for her salary, & this was even before her fake committee hearing.
In a separate but telling incident, Zone 12 DCP Somnath Ghaarge clarified to the woman that MOFSL cannot enforce discriminatory food restrictions, such as banning non veg home brought meals — A false egg eating rumour allegedly used to target her. The DCP explained – A person has the right to deny the entry of non veg food, only if the business premises is privately owned. For eg – A family store or a veg restaurant.
However when it comes to a company like MOFSL that’s publicly listed on the stock exchange, and is built on the common man’s investment money where every shareholder is an owner – In that case as per Indian laws, people have the right to eat non veg food even inside the office premises. And such “lose your job if you eat non veg” threats prove unlawful & unconstitutional policies.
Her outreach included formal emails to the National Legal Services Authority and the NCW Chief Vijaya Rahatkar, where she highlighted the systemic negligence and denial of her rights as a woman employee.
Committee Members Changed, Police Officers Removed, Secrets Buried
Key members of the initial fake committee — Retired ACP Sunil Deshmukh, Advocate Neeta Naik Jain and Advocate Chetana Lal — Were later replaced, allegedly because they “knew too much” about the MOFSL internal misconduct. MOFSL now has new lawyers on the new committee. MOFSL now does not appoint retired police officers to any such committees, apparently to prevent future criminal disclosures.
During the woman’s unlawful St. Regis Hotel recordings, she was surrounded by the same men booked in the IPC 509 FIR. She wasn’t even informed about their pre-decided presence. Were the men surrounding her so as to intimidate her ? Those booked men were not barred from entering the MOFSL office premises. She certainly was barred. In case the booked men wished to talk to the fake committee. The same fake committee handed over her St Regis Hotel unlawful recordings to the exact same men booked in the FIR. The Sprouts SIT highlights that this violates basic tenets of procedural fairness and gender-sensitive law enforcement.
Chargesheet Discrepancies, Witness Manipulation, and Email Evidence Ignored
CHRO/Executive Director/Board Member Sudhir Dhar’s police statement was taken via email, which was neither cross-examined nor attached to the official chargesheet.
Astonishingly, he continued to email the woman 7 times even after her police statement was recorded & despite an FIR against him. MOFSL even asked her to prove that she had not sexually harassed anyone, flipping the burden of proof in blatant contravention of due process.
MOFSL after her suspension was trying to understand from the fake committee on how these committees even work in the first place.
MOFSL punched her resignation into the system without her knowledge & behind her back. All this while she was on an unlawful suspension. Just like she was threatened by Associate Director Gaurav Manihar. MOFSL issued her a suspension email on the very same date.
MOFSL sent her a termination email after 3 weeks of an extended suspension. All this despite she never ever resigning herself. So she was suspended plus resigned. At the same time she was resigned plus terminated. Only MOFSL can create such a bizarre legal paradox, where everything happens simultaneously.
Termination Timeline Manipulated, Exit Interview Forged
The woman alleges that MOFSL lawyer Rohan Hadwale asked the fake committee to pre-date her termination by 16 days. MOFSL also made her fake exit interview clearance.
Questions abound: Who took her exit interview ? When and where was it held ? Was it physical or online ? What was said by her during that interview ? What was the duration ? What was her feedback to MOFSL ? If she was terminated, then how did she get an Exit Interview Clearance ? Only resigned cases get that. She never received any formal closure, and all records point to back-dated fabrication.
Internal junior call taking agents were made to write that the she was never interested in talking to girls/she is over-friendly with men/she talks only to men etc. All these false shaming complaints were created 3 days after her suspension & behind her back.
What were the other false written complaints against her after her suspension ?
She does not talk to anyone/she talks less/she does not give us a smile/we offer her snacks & she does not take/after office hours she walks with us to the railway station/she talks about Sachin Tendulkar/she says to be careful with money/she talks about birthday greetings/she talks about congratulatory messages. Also she talks about future/career/retirement/shares & gratuity.
All these things an employee can’t talk about after office hours even outside the office gate, if you work for MOFSL it seems.
Leadership Rift & Corporate Fallout & FIR Exposure
At the same time around her FIR/both Court cases/media exposure, separately MOFSL Co-Chairman & Co-Founder Raamdeo Agarwal and Chairman & Founder Motilal Oswal were reportedly planning to part ways after 35 years.
Following public revelations, MOFSL tweeted a denial of any rift between the 2 stalwarts, likely to contain reputational fallout. So both these men got stuck with each other. They did not have much of a choice at the time it seems.
The Sprouts SIT notes that MOFSL lawyer Rohan Hadwale confessed at the Dadar police station that no committee was formed at all, during the original 14 day suspension period. He told Dadar PSI Anjali Waani & Senior PI Mahesh Mugutrao that no inquiry had happened at all, up until then.
Police records filed on MOFSL’s behalf came from the very men booked in the FIR. MOFSL employees were summoned by Dadar police 3 years ago.
Why was no email written directly to POSH committee against her, if anyone felt that she had sexually harassed them ? Isn’t a false/fictitious/malicious complaint against her a breach of POSH ? Why did no POSH/Vishaka/ICC Committee meet her, while she was being suspended ? Thus, the case against her appears to be manufactured in retaliation.
Also Read: SBI Flags RCom Loan as Fraud: Anil Ambani Named in Scandal.
Related Article: Motilal Oswal Faces Shock Verdict as HC Slams Delay & Demands Apology.
Sprouts SIT Calls for Urgent Institutional Intervention
The Sprouts News Investigation Team (SIT) concludes that this case represents one of the most complex corporate counter-blast harassment cover-ups in the history of independent India. From fabricated HR records, fake committee procedures, character smearing, to legal obstruction and procedural violations — The case warrants judicial intervention, PILs by civil society, and criminal proceedings against key players.
The chargesheet contains glaring inconsistencies, despite involvement of three separate IOs — Netaji Saathe, Anjali Waani, and Maanvir Pardeshi. The woman met all 3 of them.
The woman refused Zoom video call meetings & insisted for a physical hearing, which is why St Regis Hotel was booked later.
Dadar IO Maanvir Pardeshi confessed to Dadar Division Assistant CP Sandeep Bhagdikar that MOFSL had not been co-operating in the police investigation since day one.
MOFSL Board of Directors passed a resolution & authorized Sudhir Dhar/Ajay Menon/Shailbhadra Shah/Kailash Purohit/Brijesh Bhatt/Rohan Hadwale/Deepak Gupta/Kanchi Vyas to do whatever they seem fit, on behalf of MOFSL.
Dadar police filed an FIR & chargesheet only after hard supporting documentary, more than satisfying evidences.
MOFSL lied to the media that the woman had not written to the fake committee & did not come for the fake hearing. The woman had 9 days time yet left to respond.
This investigation will continue to be tracked by Sprouts SIT, led by Editor-in-Chief Unmesh Gujarathi, until accountability is achieved at every level — Corporate, regulatory, and judicial.
