CUTTACK: The Orissa High Court On Tuesday rejected the bail application of Shrikant Mohta, a Bengali film producer who is lodged in the Jharpada jail here since his arrest on January 24, 2019.Mohta was arrested by the CBI for his alleged links with Rose Valley, one of major players in the ponzi scam. Appearing on his behalf, senior lawyer Kapil Sibal, among other grounds, cited release of some of the co-accused in the scam for consideration of bail.
However, Justice SK Sahoo said parity cannot be the sole ground for grant of bail. It is one of the grounds for consideration of the question of bail. “There is no absolute hidebound rule that bail must necessarily be granted to an accused, where another co-accused has been granted bail. It transpires that the case of the petitioner is not identically similar to the co-accused persons who have been bailed out. The grant of bail is not a mechanical act nor can the power of the Court be fettered to act against conscience”, he said.
Mohta, co-founder of Shree Venkatesh Films Pvt Ltd (SVFPL) is accused of embezzling crores of rupees on the pretext of producing films by entering into an agreement with Brand Value Communications Ltd (BVCL), a sister concern of Rose Valley Group. This is the third time he approached the Orissa HC for bail since his arrest.
In his 60 page judgment, Justice Sahoo said there had been no substantial change in circumstances after rejection of the last bail application, but investigation of the case is at a crucial stage and a huge number of documents have been collected against the petitioner relating to his involvement in the `17,000 crore scam committed by Rose Valley Group.
Stating that the petitioner’s key role in the commission of economic offence by Rose Valley is prima facie apparent, he said since Mohta is a very influential person having close contacts with reputed personalities and politicians of West Bengal, his release is likely to hamper investigation.