Temporary bail for 11 accused in fraud case
Temporary bail for 11 accused in fraud case
Produced byArchana MoreArchana More / Updated: Jul 15, 2021, 06:00 IST
In a major development in the Jalgaon-based Bhaichand Hirachand Raisoni (BHR) Multi-state
Cooperative Credit Society fraud, cheating and
Maharashtra Protection of Interest of Depositors (
MPID) case, the special sessions court on Wednesday released 11 accused on temporary bail on the condition to deposit 40 per cent amount of fixed deposit receipts matched by them, for repayment of their outstanding loan.
The sessions court has directed the accused to deposit 20 per cent of the amount within 10 days from their release, and granted three month time to repay the remaining amount.
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Pune City police arrested five people for their involvement in the alleged scam of Rs 1,200 crore that hit the Bhaichand Hirachand Raisoni (BHR) State Cooperative Credit Society in Jalgaon, Maharashtra, reports Indian Express.
One of the five accused is the liquidator himself of the BHR cooperative credit society. Police said incriminating documents had been seized in the searches carried out at the premises of the accused people.
A retired teacher who had been cheated of Rs 17 lakh by the accused had lodged a FIR with the police. The criminals had been booked under various sections of IPC.