Sessions court rejects bail plea of bizman accused of cheating private bank

Mumbai court rejects second bail plea of Mubarak Vahid Patel, accused of duping a bank of ₹3 crore with fake property documents, noting his involvement in economic fraud cases.

Mumbai: The Mumbai sessions court on Thursday rejected the second bail plea of Mubarak Vahid Patel, who was arrested in 2022 for duping a Kurla-based private bank ₹3 crore by submitting fake property documents, making note of the huge public money he siphoned off.

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Patil has been accused of making forged documents of a property registered in the name of someone else. With the help of the forged document, Patel along with his co-accused, Naval Chandak, took a loan of over ₹3 crore from the Kurla Nagarik Sahakari Bank.

While rejecting the bail, additional sessions judge SM Tapkire said that Patel was involved in four other economic fraud cases in the past and has siphoned off huge public money like this.

Patil, represented by advocate Twinkle Khemka, raised the bail application because the case’s circumstances have changed, and the trial has not progressed much. The prosecution also stated that the investigation is over, and the documentary evidence has been submitted.

The court noted the reason behind the rejection of Patil’s previous bail due to his active involvement in the case. It observed the huge public money which has been siphoned off, routed and transferred to his two bank accounts. Further, the court stated that Patil also connived with another accused to get an overdraft facility worth ₹1.8 crore from the Central Bank of India.

The current case against Patil was registered in 2016 at the VB Nagar police station under various sections of forgery, cheating and criminal conspiracy of IPC.