₹122 Crore New India Co-op Bank Scam: Court Rejects Bail Plea Of BJP Leader Hyder Azam's Brother Javed Azam

Mumbai: The Metropolitan magistrate court has rejected the bail plea of BJP Leader Hyder Azam's younger brother Javed Aazam arrested in connection with the Rs 122 crore fraud case involving New India Cooperative Bank.

Aazam had claimed that there is no iota of evidence against him and he has been arrested only on the basis of the statement of a co-accused namely Ulhanathan Arunachalam. The prosecution had claimed that Aazam had received Rs18 crore, which Aazam allegedly used to open a showroom named Digital Duniya.

After the perusal of the evidence, the court said, there is also other evidence on record but the court cannot go into the merits of the case at this stage.

“The court has to see whether there is sufficient evidence against the accused and in this matter there is sufficient evidence against the accused and investigation is yet to be completed,” the court said adding that the accused received the cash which was misappropriated by the main accused who is an employee of the bank.