The incident occurred at his Lot 3 Prospect, East Bank Demerara home just around 2.a.m on Saturday morning.
Pandit, Heeralall Doobay, 46, is now a patient of the Georgetown Public Hospital Corporation.
There are reports that three bandits arrived at the house on CG motorcycles. The bandits reportedly gained access to the yard by scaling the fence at the back of the house.
After ransacking the house the men came face to face with the Pandit in his bedroom and decided to put up a fight and it was during a scuffle with the bandits he was shot.
Relatives also said that the bandits took an undisclosed amount of cash from the house.
The Pandit only recently returned to Guyana from overseas.