Kochi Tuskers’ Co-Owner Mehul Shah Denied Bail in Rs 26 Crore Fraud Case

A sessions court has denied anticipatory bail to Mehul Shah, co-owner of Kochi Tuskers and director of Anchor Group of Companies, along with Sanjay Shah and Atul Shah, in connection with a Rs 26 crore cheating case.

Public prosecutor Kalpana Chavan confirmed the court’s decision, stating that the case was filed in September last year based on a complaint by Indur Chaudhary, owner of Art Advertising and Marketing Private Ltd and father of Bollywood actor Ashish Chaudhary.

Chaudhary alleged that some of his former employees conspired with the directors of Anchor Group to divert funds and poach clients for their own advertising firm. He further claimed that these employees had initially agreed to compensate him for the losses but later reneged on their commitment.

Following the court’s rejection of their bail plea, the three accused were taken into custody and remanded to police custody until February 25. They have now applied for regular bail, arguing that the matter is a civil dispute and should not be treated as a criminal offense.

News Source : Information for this article was gathered from a variety of reliable news outlets.