Mumbai: Ketan Kadam, CEO of Virgo Specialties Pvt Ltd and Wooder India, arrested for his role in Mithi desilting scam has approached the sessions court for bail. The prosecution has now been asked to file a reply on it.
Kadam on Friday approached the sessions court for bail after the same was rejected by the metropolitan magistrate court last month. He had claimed that not a single rupee had been received by him.
Kadam in his plea filed in magistrate court had claimed that he is neither a director or partner in the firm involved in the case. He had claimed that he was just an official signatory who represented the firm he was employed with.
Jay Joshi, director of the firm, claimed that it was Kadam who was at the center of the deal to rent out a machine used for river desilting. The defense argued that Kadam managed the company’s operations and signed all relevant documents.
However, the Economic Offences Wing (EOW) alleged that Joshi, Kadam and certain BMC officials coerced a contractor into hiring machines from Virgo Specialties at inflated rates, resulting in a Rs65 crore loss to the BMC.
