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Thane: Investment firm owner gets 5 years' RI in cheating case
Updated On: 01 April, 2021 11:23 AM IST | Thane | PTI
He also imposed a fine of Rs 50 lakh on the accused while pronouncing him guilty under Indian Penal Code Section 420 (cheating) and provisions of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act.
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A court here in Maharashtra has sentenced an investment firm owner to five years` rigorous imprisonment in a case of cheating investors. Thane District Judge P P Jadhav passed the order on Tuesday, and a copy of it was made available on Thursday.
He also imposed a fine of Rs 50 lakh on the accused while pronouncing him guilty under Indian Penal Code Section 420 (cheating) and provisions of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act.
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