VADODARA: A local court on Monday extended police
remand
of former managing director of Kemrock Industries and Exports Ltd (KIEL),
Kalpesh Patel,
by two days.
The crime branch had sought further remand from the court citing non-cooperation by Patel who was in police custody since last two days.
“Patel is not cooperating with the investigation and he or his lawyer haven’t submitted any of the documents that we have asked for. He keeps saying that he is innocent,” said Jaydeepsinh Jadeja, DCP (crime). Crime branch sleuths told the court that they couldn’t get all the documents from the banks that were closed due to holidays last week.
Patel’s wife, who is an accused in another cheating case, is still on the run. Patel was arrested by the crime branch last week in connection with a fraud case registered by Allahabad Bank. The complainant said that Patel didn’t pay Rs 443 crore loans he had taken from the bank. The complainant added that Patel diverted the loan he received from the bank for buying land in an SEZ at Jambusar. The crime branch is investigating the diversion of funds.
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