The magistrate court on Tuesday extended the police custody of Pujit Aggarwal, managing director and chief executive officer of developer firm Orbit Corporation. He was arrested for cheating a financial firm of over Rs50 crore.
The Economic Offence Wing (EOW) of Mumbai police had on Tuesday sought extension of Aggarwal’s custody stating that they have come across around 35 bank accounts connected to Aggarwal and his firm. The agency, however, said that further details of these accounts are awaited.
“During the investigation, we discovered 35 bank accounts. The account is either of the accused’s company or its directors. We also found out that the money in these accounts was deposited by the complainant company,” read the remand application submitted by the EOW. It also stated, “We have to verify where the amount has been siphoned off by the accused. In this regard bank account statements of various account is yet to receive. Hence for the verification of these accounts and preparation of the fund flow custodial interrogation of the accused is necessary.”
EOW said that they are yet to verify and further investigate the documents related to the deal with the financial firm. The agency also indicated that they would interrogate other directors of the subsidiary company.
After hearing the arguments, the court extended Aggarwal’s police custody till October 1.