Nagpur: Jan 6
The proprietor and main accused in the Shreeysurya Group Samir Joshi, who had duped over 5,000 investors to the tune of `200 crores, has moved an application in the Nagpur Bench of the Bombay High Court seeking bail in cases involving Nagpur and Akola. The High Court on Wednesday issued a notice to the state government, directing it to file a reply within two weeks in this matter.
The application was heard before Justice Pushpa Ganediwala. A total of 24 accused, including Joshi, are involved in the case. Joshi was arrested on October 15, 2013. He has been in prison ever since. Akola Khadan police have registered an FIR against Joshi and other accused.
The case is pending in Sessions Court. Joshi was luring investors with 25 to 40 per cent returns per annum. He had hired agents in several cities to deceive investors. The scam came to light when investors stopped receiving returns and deposits after some time. Adv. Sangram Sirpurkar represented Joshi in the hearing.