Mumbai News: Special CBI Court Refuses To Discharge Businessman Abhay Lodha In ₹74.82 Crore UCO Bank Fraud Case

Mumbai: The special CBI court has refused to discharge businessman Abhay Lodha in a bank fraud case, observing that he was a prime accused and without his indulgence the crime could not have been committed.

Lodha was booked by CBI, on the complaint of Ashok Makhija, general manager and zonal head of UCO Bank, zonal office, alleging that Akshata Mercantile Pvt Ltd (AMPL), and its office bearers including bank officials conspired and cheated UCO Bank, to the tune of Rs 74.82 crore in October 2018.

Lodha's lawyer sought his discharge from the case, arguing that he is not a director of AMPL and was neither responsible for nor involved in its day-to-day affairs. The plea, however, was objected by the CBI and cited statements of several witnesses, and said he had a positive role in the crime.

“It is to be seen whether there is no prima facie case against the accused. Even though Lodha may not be the director of AMPL. However, the investigating officer has collected material disclosing that AMPL was a group company of Topworth Group of Companies of which Lodha was a chairman. He has direct control over the business affairs of AMPL. Throughout the investigation, it revealed that Lodha was the prime accused and without his indulgence the crime could not have been committed,” the court said rejecting the plea of Lodha for discharge.