Harresh Mehta of Rohan Developers (Rohan Lifescapes) was arrested by CBI on May 20 and produced before the court wherein he was kept in police custody until May 24 and then sent to judicial custody.
The CBI opposed the bail application. Prosecutor Jitendra Kumar Sharma submitted before a Thane court that Mehta is the direct beneficiary of Rs50 crore of the total fraud amount and has been enjoying it since 2012.