Mumbai: The Metropolitan Magistrate court has rejected the bail plea of producer Sanjay Saha, who was arrested last month in connection with allegedly siphoning off Rs 1.55 crore from actor Vivek Oberoi's firm. The magistrate court rejected his bail plea, claiming that there are multiple complaints against him.
"The accused is facing multiple accusations under different FIR's, which show his criminal antecedents," the court stated. Saha, is the owner of an event management firm and a former business partner of actor Vivek Oberoi, allegedly defrauding the actor of Rs 1.55 crore. Two accused, Nandita Saha and Radhika Nanda, are still at large.
Oberoi has filed a case against his three business partners for allegedly defrauding him of Rs 1.55 crore. The actor's firm, Oberoi Mega Entertainment LLP, has authorised chartered accountant Deven Bafna to register the case on his behalf at the MIDC police station on July 19.
Saha's arrest and allegations
Saha was arrested on October 3 by the MIDC police. Oberoi claimed that Saha, Nandita, and Nanda are partners in the company and they allegedly siphoned off funds from the company account for their personal use without informing Oberoi.
It is claimed that in April 2022, Vivek Oberoi discovered that Sanjay Saha had misused the firm's funds for personal purposes. Sanjay Saha transferred Rs 5 lakh for life insurance in his mother's name and Rs 10 lakh to Radhika Nanda's account, labeled as salary. Additionally, Sanjay Saha used a significant amount for jewelry and personal expenses.
The complaint also alleges that Sanjay Saha established Anandita Studios Private Limited and informed ZEE 5 about the new firm producing the film 'Ganshe,' hiding this information from Vivek Oberoi. Sanjay Saha and the other accused allegedly pocketed Rs 60 lakh, which were meant to be payment for Vivek Oberoi's guest appearances in various events and programmes.
Saha's legal defence
Saha's lawyer, however, claimed that the complaint doesn't specify any particular transaction and also claimed that these are civil issues that fall under NCLT.
Oberoi, on the other hand, claimed that the company funds so siphoned were solely contributed by Oberoi and they have been used for the personal expenses of the accused persons.
The court, after referring to the compilation submitted by the complainant of the records of accounts and expenses, noted that "the record reveals that the transaction in respect of the Company's account was done for personal use, for the purchase of gold ornaments, gadgets, personal insurance, furniture, groceries, etc." The court said this is a misuse of funds.
Prerak Choudhary, an advocate of actor Vivek Oberoi, said, "The rejection of the bail plea of Saha underscores that there is a need for further investigation in the matter, and we are hopeful that the state shall do what it takes to ensure that the culprits are punished as per the law."
