LeicestershireLive reports that Todiwala, who owns three restaurants in London, had become "disillusioned and disappointed" with the venture.
"I am very sorry to let the people of Leicester down and I feel very sad that this decision had to be made so early in the restaurant's life," he told the paper.
Tandem, which opened within Leicester’s Highcross shopping centre last October, had been billed as Todiwala’s first restaurant venture outside of the capital.
It was described as ‘a celebration of authentic Indian cuisine and cocktail mixology’, with the menu designed by Todiwala to span the Indian subcontinent.
Todiwala has told LeicestershireLive he met ‘several hundred people’ who were all looking forward to seeing what the restaurant would bring to Leicester, and he was sorry to be disappointing them.
"Tandem - as I had envisaged to be a shining star in the Midlands - sadly left me disillusioned and disappointed at the direction it was taking and for me the only sensible way, regardless of the loss, was to exit," he said.
Todiwala’s three London restaurants include Café Spice Namasté, which he opened in Whitechapel back in 1995; and two Mr Todiwala's Kitchen sites, located at Lincoln Plaza London and the Hilton London Heathrow Airport Terminal 5 respectively.
The Bombay-born and trained chef co-founded the Zest Quest Asia student catering competition in 2013, and has an MBE for his services to education and an OBE for his contribution to the hospitality industry.