The duo surrendered to a Thane court on December 14 2019. They were subsequently arrested by the city police s Economic Offences Wing which is probing the cheating case.
The jewellery firm had shut its outlets in Thane, Palghar, Mumbai and other parts of Maharashtra a couple of days before Diwali last year, leaving hundreds of people, who invested in its gold and fixed deposit schemes, in the lurch.
The two accused were booked under various IPC sections, including 420 (cheating), 406 (criminal breach of trust), 34 (common intention) and also provisions of the Maharashtra Protection of Interests of Depositors in Financial Establishments (MPID) Act and the Banning of Unregulated Deposit Schemes Act.
The jewellery firm had shut its outlets in Thane, Palghar, Mumbai and other parts of Maharashtra a couple of days before Diwali last year (file photo)
THANE: A court here in Maharashtra has rejected the bail application of two owners of Goodwin Jewellers, arrested in connection with a multi-crore cheating case involving thousands of investors.
District and Sessions Judge (special cases) R V Tamhanekar in his order on Saturday said the accused, A M Sudheerkumar and A M Sunilkumar, both brothers and owners of the fraud-hit jewellery chain originally hailing from Kerala, did not deserve bail at this stage.
Hence, their application was being rejected, he said.
Photo Credit: Pixabay
Thane: A court here in Maharashtra has rejected the bail application of two owners of Goodwin Jewellers, arrested in connection with a multi-crore cheating case involving thousands of investors.
District and Sessions Judge (special cases) R V Tamhanekar in his order on Saturday said the accused, A M Sudheerkumar and A M Sunilkumar, both brothers and owners of the fraud-hit jewellery chain originally hailing from Kerala, did not deserve bail at this stage.
Hence, their application was being rejected, he said.
The duo surrendered to a Thane court on December 14 2019. They were subsequently arrested by the city police s Economic Offences Wing which is probing the cheating case.