The complainant, an employee of an electric company, has alleged that Bhagwat befriended him, gradually gained his trust and discussed investment opportunities in the stock market

The accused have been identified as Sagar Subodh Karivadekar, a resident of Sindhudurg, and Sachin Balkrishna Rane from Thane; the case was registered based on a complaint filed by a woman from Bhandup in neighbouring Mumbai