India, March 7 -- A special CBI court in Mumbai on Friday transferred two bank fraud cases involving Winsome Diamonds & Jewellery Ltd, promoted by diamantaire Jatin Mehta, to a magistrate's court after the agency said it found no evidence against any public servant under the Prevention of Corruption Act.

In two separate orders, special judge Dr J P Darekar directed that the FIRs and related documents be transferred to the Chief Metropolitan Magistrate's court at Esplanade, Mumbai. The prosecution has indicated that it now intends to file chargesheets only against private persons under provisions of the Indian Penal Code.

One case pertains to an alleged Rs.264.15-crore fraud on Union Bank of India, based on a complaint filed on May 15, 2...