The Economic Offences Wing (EOW) of the Central Bureau of Investigation (CBI) has apprehended Harresh Mehta, a prominent Mumbai developer associated with Rohan Lifespaces Ltd. Mehta has been arrested in connection with a fraud case involving a leading public sector bank, where an alleged defrauding of Rs 280 crore took place.The Mumbai unit of the CBIs Economic Offences Wing (EOW) initiated a case based on a complaint filed by the Thane branch of the bank against Vijay Gupta and Ajay Gupta, the directors of RRL.Mehta is presently in the custody of the judicial system.image source: twitterAs per the FIR filed by the CBI, the investigation was launched in 2016 following a complaint against the directors of Rajput Retail Ltd (RRL). The complaint alleged that the directors of RRL fraudulently obtained a loan of Rs 280 crore from the State Bank of India (SBI) and deceived the bank.The complaint alleged that RRL, along with its Directors and accomplices, including unidentified government officials, conspired and obtained three loans from the bank on separate occasions. It is claimed that the accused individuals used falsified and fabricated documents to deceive the bank, resulting in a fraud amounting to Rs 280 crores.In July 2018, the CBI filed a chargesheet in relation to this case.Additionally, during the investigation, the role of Harresh Mehta, associated with Rohan Lifespaces Ltd and Rohan Constructions Ltd, came under scrutiny.The investigative agency carried out searches at the offices and residences of Harresh Mehta and Ruby Mills Ltd as part of their probe.The probe revealed that loans had been sanctioned for the purchase of premises on three floors of the building, The Ruby, for a total of Rs 149 crore loan and another short-term loan of Rs 16 crore to RRL in November 2011.The total loan amount of Rs 155 crore was received in the accounts held by Ruby Mills Ltd in February 2012.Opposing the extension of Mehtas custody, his lawyers argued that he had fully cooperated with the agency and that the probe was related to a case registered in 2016.The lawyer also mentioned that it was not Mehta who was involved in any kind of forgery or fabrication of documents or cheating and stated that the arrest by CBI was illegal.
