HC bail to VGN Jewellers directors in fraud case
MUMBAI, March 4 -- The Bombay high court on Monday granted bail to an elderly couple, aged 80 and 76, arrested in connection with an alleged investment fraud of Rs.620 crore. Veerath Gopalan Nair (80) and his wife, Valsala Gopalan Nair (76), directors of VGN Jewellers, were incarcerated for over three years and got relief from the court primarily in view of their age and medical conditions. The court said their prolonged incarceration, coupled with their advanced age and health conditions, justified bail. It also observed that the case largely pertained to cheating rather than criminal breach of trust. HTC...
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