Bengaluru: An Additional City Civil and Sessions court on Saturday rejected the bail petitions of six accused in Barkha investment multi-crore scam, in which three of its owners have been arrested.
While the three arrested accused Shafiullah (42), Mohammad Rafiullah (37) and their father Abdul Rahman (68) had filed a regular bail petitions, the other three accused Mohammad Zabiullah (41), Salma Siddiqa (40) and Tajunnisa (64), who are yet to be arrested, have filed an anticipatory bail.
However, the 59th Additional City Civil and Sessions court judge Justice B.B. Jakati rejected both the bail petitions stating the accused could influence the ongoing investigation into the scam.
Following cheating complaints against Barkha investments which has allegedly cheated over 1,500 investors of crores of rupees, the RT Nagar police had taken up a case under sections 120B, 406, 420 of IPC and 4 and 5 of Price Chits and Money Circulation Scheme (Banning Act) 1978 and had arrested Shafiullah, Rafiullah and Abdul Rahman in May this year.
However, Zabiullah, another accused son of Abdul Rahman is still absconding.
While the police have launched a manhunt to nab Zabiullah who is absconding, the role of Abdul Rahman's wife Tajunnisa and their daughter-in-law Salma is still being probed.
"The complainants have named the accused family members as well. During the preliminary investigation we did not find the women involved the scam. However, the Investigation is underway and if their role is established, we will arrest them too," a police officer part of the Investigation team said.
The accused in their bail petitions informed the court that they were falsely booked by the police and that they were in judicial custody for a longer time thus should be released on bail. However, the court observed that the case is still under investigation and releasing the accused on bail would influence the Investigation.
According to police, Barkha investments took money from investors promising over 12 percent monthly returns. They paid the investors initially, but then stopped. It is learnt that over 1,500 people have invested crores of rupees in the company and ended up being victims.
