KOCHI: The Crime Branch will soon launch a detailed probe into the alleged economic fraud to the tune of Rs 60 crore committed by two directors of a Mattanchery-based group of companies. Though the case was initially registered at the Mattanchery police station based on a complaint lodged by Mahesh Kumar Gupta, sibling of the accused, the case was transferred to the Crime Branch considering the quantum of fraud.
“We registered a case against Rajkumar Gupta, 52, and Vishnukanth Gupta, 49, both directors of RBG Enterprises, under various sections of IPC for fraud and criminal breach of trust. As the amount involved in the case is huge, the case was handed over to Crime Branch,” said a senior police officer of the Mattanchery police station.
A local court here has rejected the anticipatory bail applications filed by the accused duo after police contended that they had committed the crime. In the report submitted in the court, police said the accused manipulated the company’s documents and misappropriated funds to tune of `60 crore cheating the shareholders of the group companies.
Rajkumar and Vishnukanth told the court that the issue was a family dispute and the case was registered solely with the ill-motive to put them behind bars. Rejecting their bail applications, the court observed that “on a careful scrutiny of the case diary, it is revealed that there are prima-facie materials against the petitioners. Therefore, the claim that the dispute is a family dispute cannot be taken as a ground to grant pre-arrest bail to them.”