MUMBAI: The Bombay high court granted interim protection from arrest to developer Ashit Doshi, whose anticipatory bail was revoked last week by the sessions court.
Doshi, along with four others, is accused of defrauding a finance company of Rs 3.30 crore in a case registered by the Antop Hill police.
The allegations stem from a Rs 20 crore loan taken by Zeus Housing and Construction Limited, of which Doshi and his wife Poonam are directors.
The complainants, Manish Shah and Mehul Shah, alleged that the accused sold a few SRA flats pledged as loan collateral to third parties, violating the loan agreement.
Doshi’s bail was revoked for failing to submit weekly reports on fund utilisation as required by an earlier bail order. However, his counsel argued that no funds were disbursed by the SWAMIH Investment Fund, making such reports irrelevant.
Justice Somasekhar Sundaresan granted Doshi protection until January 9, 2025, when the matter will be heard by a Regular Bench.
Meanwhile, the court allowed the complainant, Mehul Shah, to be added as a respondent and criticised the investigating officer for procedural lapses.