Cops oppose bail plea of former Kemrock MD

VADODARA: Investigators in the Allahabad Bank cheating case believe that the former managing director of the beleaguered Kemrock Industries and Exports Ltd – Kalpesh Patel – will again cheat banks and investors if he will be allowed bail.
Cops told this to a court hearing the bail plea of Patel. The detection of crime branch of city police that is investigating the case filed an affidavit in the court opposing Patel’s bail application.
It has been stated that Patel has a criminal background as the CID (crime) had also registered a case against him and filed a chargesheet.“If he is allowed bail, he will again commit such crimes,” the affidavit stated. Police also highlighted the fact that in the past Patel had fled to the United States and had returned only after two years. Cops said that there are possibilities that he may again flee to the United States if allowed bail. Patel has not handed over his passport to the cops and has not even furnished details about it, police claim.
In response to the police’s affidavit, Patel’s lawyer sought another date to file a reply. The court will now hear the case further on Friday.
Patel was arrested for allegedly cheating Allahabad Bank of Rs 443 crore. It has been alleged that the forensic audit report revealed that KIEL bought land worth Rs 250 to Rs 300 crore in the special economic zone (SEZ) of Sterling Industries in Sarod village at Jambusar from the loan amount. The bank kept making efforts to recover their loan amount from Patel but to no avail.