Anticipatory bail of couple involved in Rs 4.75 Cr fraud rejected

Chhatrapati Sambhajinagar: Sessions Court Judge S J Ramgadiya rejected the anticipatory bail application filed by a couple that was involved in Rs 4.45 crore cheating case.

According to sources, Shyam Trilokchand Agrawal owns the main office of ‘Ridhi-Siddhi Cotex’ at Chikalthana MIDC.

He, through his firms-Ramanujan Cotton Corporation, Riddhi Siddhi Cotex and Siddhi Fibres, supplied goods of Rs 2.6 crore to a company owned by a couple of Amit Krishnamohan Saigal (52) and Kavita Amit Saigal (46), both are resident of Vasant Vihar Delhi. The goods were supplied from November 3, 2016, to April 7, 2024, the couple’s firm.

An interest of Rs 2.69 crore was levied on the pending amount. Saigal owes Rs 5.45 crore to these firms.

However, Saigal with his colleagues gained the trust of Agrawal and cheated him by preparing fake firms and ledger books and making fake entries. On the basis of the complaint given by Agrawal, a case was registered with MIDC Cidco Police Station. Amit and his wife Kavita applied for anticipatory bail.

During the hearing, Assistant Public Prosecutor Raju Pahadiya informed the court that the accused were supposed to remain present in the court, but, they did not.

He opposed the bail of the accused by arguing that the enquiry of their accomplices and documents is yet to be done.