Marathe jewellers: Two of family arrested by Pune police in cheating case
Two people from the Marathe family were arrested by the Pune police on Monday in the cheating case registered against them on March 11 at Kothrud police station
Two people from the Marathe family were arrested by the Pune police on Monday in the cheating case registered against them on March 11 at Kothrud police station.
The arrested people have been identified as Manjiri Marathe and Kaustubh Marathe, who was referred to as “absconding” in an order rejecting both their anticipatory bails by the Bombay High Court on August 6.
Milind alias Balwant Marathe died by suicide in December 2020. His wife Neena Marathe, who was the complainant in the case against an investor for driving her husband to suicide, is also an accused in the cheating case.
The cheating case was registered on March 11 at Kothrud police station under Sections 406, 420 with 34 of the Indian Penal Code(IPC) and Section 3 and others of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999.
During the argument of the anticipatory bail in the high court, the lawyer for Manjiri and Kaustubh had alleged that the now-deceased jewellery baron had siphoned money from the company and formed another firm to buy hotels and resorts without the knowledge of other partners including Kaustubh and Manjiri.
The husband-wife duo’s lawyer accused the deceased man of siphoning off ₹7,75,81,920 between 2013-2014 and 2019-2020.
“Manjiri Marathe was asked by the Supreme Court to appear before the sessions court before the stipulated time due to which she appeared before the sessions court on September 13 along with Kaustubh Marathe. They were arrested for further investigation. Pranav Marathe (26) has been arrested earlier in this case and is currently in judicial custody. The extent of the cheating in this case is bound to rise in the future,” read a statement from Economic Offences Wing (EOW) of Pune police.
It was also argued by the defence lawyers that the two women - Manjiri and Neena - were only partners until November 30, 2018, after which they had resigned from their posts. However, the court observed, only for the purpose of anticipatory bail that the two women were part of the partnership until then.
“Prima facie, the applicants Manjiri and Neena, being working as directors and partners of the company which had floated the scheme of investment for luring the depositors continued to hold the position in the partnership firm and the company till December 31, 2018, and the statement of witnesses reveal that the investments are made in the year 2016,” reads the HC order by justice Bharati Dangre.