New York- Deelip Mhaske, a Dalit public servant of Indian origin who rose from a drought-prone village in Maharashtra to serve on the New Jersey–India Commission, says an attempt to help an Indian media company secure international investment has instead left him battling criminal proceedings, reputational damage, and enormous legal costs.
Mhaske, who comes from a landless farming family belonging to the Scheduled Castes, describes his journey as one shaped by poverty, caste barriers, and education. The first in his family to attend college, he studied at the Indian Institute of Technology (IIT) Bombay and the Tata Institute of Social Sciences (TISS), before pursuing executive education at Harvard Business School and a fellowship associated with the Harvard Kennedy School.
Today, however, he says decades of public service and community leadership have been overshadowed by a commercial dispute linked to a proposed investment in a Hyderabad-based media company pursuing FIFA World Cup 2026 broadcasting rights.
Mhaske currently serves as a gubernatorial appointee to the New Jersey–India Commission. He describes the appointment as a rare achievement for someone raised in a drought-stricken rural community and says his present concerns have not received the consideration they deserve.
The dispute centres on a proposed cross-border investment for the FIFA World Cup 2026 India Territory media rights, involving Hyderabad-based Metalloid Productions Pvt. Ltd. and Avni LLC, a New Jersey-based company headed by Deelip Mhaske. According to Avni LLC, Mhaske was invited to help identify international investors and spent about seven months arranging meetings, conducting due diligence, securing proof-of-funds, and facilitating negotiations for an investment initially valued at USD 50 million, later expanding to around USD 70 million.
According to Mhaske, he was approached to help connect the company with international investors. He says he initially believed he was supporting an emerging Indian enterprise with global ambitions.
However, after reviewing the company's financial statements, Mhaske says he was surprised to find that it reportedly had no operating revenue, annual losses, and cash reserves of less than USD 1,000, while simultaneously seeking investments worth approximately USD 70 million (around ₹700 crore).
"I believed I was helping Indian entrepreneurship," Mhaske said. "I never imagined that the effort would eventually place my own reputation and family at risk."
Mhaske alleges that during fundraising, investors were presented with corporate materials portraying "Metalloid E&M Group (India/USA/Singapore)" as an established multinational entertainment company with extensive global operations and industry associations. However, he claims that the audited financial statements of Metalloid Productions Pvt. Ltd. showed no operating revenue, annual losses, and cash reserves of approximately USD 1,000, raising questions about the company's financial capacity to execute a project of that scale. He has requested investigators to determine whether investors received complete and accurate information regarding the company's financial condition, corporate structure, and operational capabilities.
Mhaske alleges that promotional material presented the organisation as a large international entertainment group with operations across India, Singapore and the United States, while highlighting associations with well-known personalities and entertainment projects.
He contends that investigators should examine whether some achievements showcased in the presentations actually belonged to affiliated entities, separate companies or individual professionals rather than the company that sought investment.
He further claims he spent nearly seven months introducing potential investors, coordinating meetings, facilitating negotiations, reviewing documentation and assisting in structuring the proposed investment.
Despite extensive discussions involving investors from the United States, India, Europe and the Middle East, the investment was never finalised.
According to Avni LLC, the dispute intensified after it was allegedly excluded from later negotiations. The company claims that a No Objection Certificate (NOC) relating to the proposed FIFA transaction was issued without its knowledge or consent, despite its claimed shareholder and contractual rights. Avni LLC further alleges that, following these developments, legal proceedings were initiated against Mhaske and his company in India. Mhaske denies any wrongdoing and contends that the criminal proceedings and adverse publicity damaged his reputation before the commercial dispute was fully examined.
Mhaske alleges that after the proposed transaction collapsed, criminal proceedings were initiated against him in India and media reports were published before he had an opportunity to present his version of events.
He denies any wrongdoing and maintains that the underlying commercial and contractual issues were not adequately examined before allegations became public.
The legal matters remain pending and have not been finally adjudicated.
According to Mhaske, the consequences have extended well beyond the courtroom.
He says professional relationships built over several decades weakened, business associates distanced themselves, and members of the Indian diaspora who once recognised his public service began questioning his integrity after reading reports about the dispute.
"The most painful part was watching decades of public service and relationship-building appear to disappear within days," he said.
Mhaske says the controversy has also affected his elderly parents, who continue to live in rural Maharashtra. "My parents do not know what international broadcasting rights or investment structures mean," he said. "They only know that people are speaking about their son."
Mhaske also alleges that substantial monetary demands were communicated during efforts to resolve the dispute. He has requested that authorities independently authenticate recorded conversations and written communications to determine whether they constituted legitimate settlement discussions or improper pressure.
These allegations remain disputed and have not been established in court.
Mhaske says he has sought intervention from multiple authorities, including the Federal Bureau of Investigation (FBI), the U.S. Department of Justice, the U.S. Securities and Exchange Commission, New Jersey authorities, the Government of Telangana and relevant Indian agencies.
His requests call for an independent examination of the company's financial capacity, investor documentation, FIFA-related negotiations, corporate representations, handling of confidential information and the circumstances surrounding the criminal proceedings.
For many observers, Mhaske's life reflects the journey of a Dalit man who overcame deep social and economic disadvantages to reach positions of international recognition.
Raised in a drought-hit farming family, becoming the first graduate in his household and later serving in public office in the United States represented a remarkable social transformation.
Mhaske says the current legal battle has placed not only his reputation but also years of public service under scrutiny.
"India is my motherland," he said. "I continue to believe in its people and its institutions. I only ask that the truth be determined through documents, evidence and due process, not through influence, threats or headlines."
Beyond his personal case, Mhaske believes the dispute raises larger concerns for members of the Indian diaspora who use their professional networks to support Indian businesses seeking international investment.
He argues that if such efforts expose individuals to prolonged legal disputes, financial burdens and reputational damage before the facts are fully examined, professionals abroad may become reluctant to assist emerging Indian enterprises.
Mhaske and Avni LLC have requested investigations by the FBI, U.S. Department of Justice, SEC, New Jersey authorities, the Government of Telangana, and other Indian authorities into the investment solicitation, corporate representations, FIFA negotiations, handling of confidential information, alleged conflicts of interest, and the circumstances surrounding the subsequent legal proceedings. The submissions are requests for investigation, and Avni LLC expressly states that it is not asking authorities to presume criminal liability, but to independently assess the evidence.
Disclaimer: This report is based on the clarification and supporting materials provided by Deelip Mhaske. The matters discussed remain subject to ongoing judicial and legal proceedings, and nothing in this report is intended to influence, prejudice, or interfere with the due process of law.
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