India, Aug. 13 -- The Bombay high court on Tuesday denied bail to the director of a firm, who has been in jail since 2020, for allegedly defrauding 1,933 investors to the tune of Rs.214 crore.
"Such large-scale mobilisation of funds, in contravention of statutory provisions meant to safeguard the public, significantly increases the seriousness of the case. The prolonged incarceration plea advanced on behalf of the applicant does not tilt the balance in his favour at this stage", said Justice Amit Borkar while rejecting the bail plea.
The case dates back to 2020, when the accused Jayant Sanjeeva Shetty and his two accomplices, the directors of the firm Shree Ramanjaneya Leasing and Finance Pvt Ltd, were arrested for allegedly accepting d...
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