Film producer Parag Sanghvi who was arrested in the alleged cheating case involving the directors of Kamala Land Mark, was released on bail of Rs one lakhs.
The 47th Metropolitan Magistrate directed that Parag should be release on cash bail of Rs one lakh
While granting bail court observed “it appears from the police papers and chargesheet that main accused Jitendra Jain was released on bail on October 2019. Other accused Jinendra Jain is also on bail.Even chargesheet came to be filed against remaining accused, therefore there is no question of tampering or hampering the prosecution evidence.
The Housing unit of EOW had i arrested
Parag Sanghvi the Chief Executive Officer (CEO) of Alumbra Entertainment private limited in connection with a 2016 cheating case where Jitendra and his brother Jinendra Jain of Kamala Landmark were arrested.
Complaint a developer who had purchased three flats in 2013 at Turner Road from Kamala Infra and Kamala Landmark Properties, companies of the Kamala Landmark group. On Jitendra Jain’s request, the complainant rented out the three flats to Alumbra Entertainment and Media Pvt Ltd and Metalica Pvt Ltd. Though the flats were on rent, without complainant’s knowledge Jain, sold these flats to a third party and caused a huge loss of Rs 13.74 crores.
“Our contention was that Parag is neither a director or partner in Kamla group. In the lease agreement (of alumbra )no where Parag’s signature is there. The Kamla group later sold the same premises to another party. So fraud was committed buy Kamla developers and Parag has no role.’’ ( in ths transaction)Said the investigation officer in his police say he also added that the complaint does not even know parag sanghavi and has never met him it was further revelead that parag sanghavis name was not even there in the fir which was filled in 2016.
Breaking his silence, Parag said, “It was shocking when my name was dragged into this case. its being called a housing scam i have not developed any building residential or commercial so how can i do a housing scam without making any building till date. i am a film maker not a building developer. I have nothing to do with the transactions and I am glad that the court has taken cognisance of my innocence and granted me bail.”
And even the court observerd that the entire transaction was done by the 3 accused jitendra jain jinendra jain nd ketan shah and parag sanghavi has not been part of this deal nor has he signed any document
