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Nutan Dal Mill fraud: Mumbai court denies bail to absconder Nareshkumar Barad
Updated On: 29 July, 2024 11:14 AM IST | Mumbai | Samiullah Khan
The Mumbai Sessions MPID Court rejected the bail application of Nareshkumar Barad, the absconding proprietor of Vidya Marketing, involved in the Nutan Dal Mill investment fraud case. Barad is accused of trading in oil and receiving money from Ketan Rambhia, the proprietor of Nutan Dal Mill Stores, who collected it from various investors
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The Goregaon police investigated the case, filed a chargesheet, and found clear involvement of accused Nareshkumar Barad. Barad has been absconding since he applied for bail in the Mumbai Sessions MPID Court in April 2024. File pic
The Mumbai Sessions MPID Court rejected the bail application of Nareshkumar Barad, the absconding proprietor of Vidya Marketing, involved in the Nutan Dal Mill investment fraud case.
Barad is accused of trading in oil and receiving money from Ketan Rambhia, the proprietor of Nutan Dal Mill Stores, who collected it from various investors. Barad would then transfer the received funds back to Rambhia in cash, leading to a conspiracy that siphoned off Rs 13,62,81,799 crore from numerous investors.
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