India, April 18 -- A designated court under the Maharashtra Protection of Interest of Depositors (MPID) has refused to discharge a director of Temple Rose Real Estate Pvt Ltd in an alleged Rs.90-crore investment fraud involving around 3,000 depositors, ruling that the evidence on record is enough to proceed to trial.

According to the prosecution, the company and its directors lured investors with promises of high returns, mobilised nearly Rs.90 crore, and later defaulted, allegedly diverting funds and acquiring assets.

Additional Sessions Judge N.G. Shukla on Thursday dismissed the discharge plea filed by Markas Yohan Thorat, who claimed he was only a nominal director with a limited role in land-related work and no involvement in financ...