The incident took place at around 8.45 pm on Monday when Sharma, was crossing the road near Ludlow Castle School and a Mercedes car hit him.
Sharma, the marketing head of a multinational enterprise, was flung several feet into the air and landed at least 15 metres away, severely injured. Due to the impact of the accident, a tyre of the car burst and it stopped after a sharp drift on the road.
It was later learnt that the car was being driven by a 17-year-old and his friends, who were allegedly going for a joy ride.
The police earlier said, that the car was being driven at a speed of at least 80 km per hour and that the accused fled from the scene, leaving the car behind.
The juvenile driving the car has since been let off on bail. The boy’s father however, will be prosecuted under the MV Act. The father’s driver will also be booked for initially giving false information to the police that he was driving the car.