Mumbai: Film producer Parag Sanghvi, who was arrested in the alleged cheating case involving the Director of Kamala Land Marc, was released on a guarantee on Tuesday.
The 47th Metropolitan Magistrate directed that Parag was released with a cash guarantee of RS 1 Lakh.
While giving guarantees, the court observed, “it seems that the police and Chargesheet was accused by Jitendra Jain, which was accused of being released in a bail in October 2019.
Other accusations Jinendra Jain was also guaranteed.
Even Chargesheets appeared on the remaining charges, therefore at that there.
There are no questions about damaging or inhibiting proof of prosecution.
“The EOW housing unit has been in December of Parag Sanghvi, Chief Executive Officer (CEO) of Alumbra Entertainment Private Limited in connection with the 2016 Cheating Kasing where Jitendra and his brother Jinendra Jain from Kamala Landmark Arrested .
The complainant is a developer who has bought three flats in 2013 at Turner Road from Kamala Infra and Kamala Landmark Property – Companies from Kamala Landmark Group.
At Jitendra Jain’s request, the complainants rented three flats to Alumbra Entertainment and Media Pvt Ltd and Metalica Pvt Ltd.
Although the flat was rented, without the knowledge of the complainant, Jain sold a flat to third parties and caused a large loss of Rs 13.74 Crore.
“Our opinion is that Parag is not a director or partner in the Kamala group.
So fraud is done buying Kamala Developers and Parag do not have a role and finally the name Parag is not in FIR which was submitted in 2016,” said lawyer Saurabh Ghag Saurabh Ghag.
In the lease agreement (from Alumbra’s signature) from Parag’s signature is not visible.
The Kamala group then sells the same place to another party.
And Parag did not know and had never met a complainant, police said.