Mumbai, May 28: Chairman of Roofit Industries Suresh Motwani has been released on bail by a sessions court in a fresh cheating case registered against him by the Mumbai police. Sessions judge H S Deshpande ordered his release on Tuesday on a sum of Rs 1 lakh with one surety or cash surety of the like amount.
Motwani had earlier been arrested in another cheating case under Maharashtra Prevention of Investors Depositors Act which was a more serious offence than this one. The amount involved in the present case was about Rs 48.35 lakh while the money involved in the earlier case was Rs 5.5 crore.
His earlier bail plea was rejected and he was remanded in police custody. However, Motwani moved the high court for bail. Although the present case was registered against Motwani, the police did not disclose this to the high court in the affidavits filed by it. The court granted him bail on a plea of Motwani that he wanted to return money to investors. Bureau Report