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Bombay High Court rejects bail to businessman booked for fraud of Rs 300 crore

The court observed that the investigation was still incomplete and due to non-cooperation from Kothari, who was booked in 2019, his custodial interrogation was required.

By: Express News Service | Mumbai |
April 9, 2021 1:57:27 am
Bombay High Court, businessman, 300 crore fraud, mumbai news, indian expressThe Bombay High Court. (File)

The Bombay High Court, observing that “economic offences are to be viewed seriously” while considering bail pleas, on Wednesday rejected bail to Vijay Kothari, a businessman and a prime accused in a fraud of over Rs 300 crore pertaining to import remittance to various companies in Dubai and Hong Kong towards direct imports from various banks.

The court observed that the investigation was still incomplete and due to non-cooperation from Kothari, who was booked in 2019, his custodial interrogation was required.

“It may be stated that economic offences are to be viewed seriously, as they constitute class apart and need to be visited with a different approach in the matter,” it said.

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