Kartikey Shankarlal Garasia, former CEO of Ventura Air Connect, was arrested at Mumbai International Airport while attempting to flee to the United States. He stands accused of orchestrating a Rs2.33 crore fraud under the pretext of purchasing an aircraft for the Surat-based regional airline.
A seasoned pilot with over 4,700 flight hours and a U.S. pilot license, Garasia had been trusted with a major procurement deal. However, instead of delivering the aircraft, he allegedly misappropriated company funds, repaying only Rs1.19 crore out of Rs3.52 crore advanced to him for the purchase.
The fraud came to light following a complaint filed by Manu Mohanbhai Sojitra on September 30, 2019, which led Umra police to initiate a criminal case. Garasia had disappeared soon after partial repayment, triggering a lookout notice that eventually led to his detention at the airport.
“The lookout notice was key. He would have escaped if not for it,” said a police officer involved in the arrest.
During interrogation, Garasia revealed his connection with Golf Arrow Flight School in Arlington, Texas, where he served as a flight instructor. His impressive aviation credentials added to the shock factor, with industry insiders expressing disbelief over such a betrayal of professional ethics.
An insider from Ventura Air Connect said,
“It’s a massive breach of trust. His credentials made everyone believe in him.”
Investigations have also uncovered that Garasia may have diverted insurance claim funds—meant to recover a cyclone-damaged four-seater aircraft—to finance the purchase of two planes for his own aviation venture. Authorities suspect a larger scam involving insurance fraud and misappropriation of company resources.
The case is now under the control of PI J.G. Patel of the Surat Crime Branch, who hinted at deeper revelations ahead.
“We expect more shocking disclosures as the investigation progresses,” said Patel.
Garasia has been remanded to two days of police custody as the investigation continues to widen in scope.
