Mumbai, May 13 -- A special CBI court has rejected the discharge plea of a businessman, Premal Goragandhi, facing charges of defrauding the Indian Overseas Bank to the tune of Rs 297.56 crore, a lawyer said here on Tuesday.
While rejecting the plea, the court observed that a man may lie, but circumstances do not.
According to sources in the prosecution, CBI had registered the case in 2017 against M/s Parekh Aluminex Ltd (PAL) and others for obtaining credit facilities and not clearing the dues. Goragandhi is alleged to have played a pivotal role in this conspiracy by acting as a director in three shell companies, namely Suryakiran Ferro Alloys, Bhumika Foils and Bhagyoday Ferro Alloys.
The central investigation agency said these shell ...