Girgaum Magistrate Court convicts Viraf Kanga of issuing bad cheques worth Rs 2,14,500 to Mukesh Sidhpura
It took nearly 15 years for Mukesh Sidhpura, now 60, to recover the money he and his family members had invested in a scheme in 1999.
Mukesh Sidhpura with his advocate J H Dhorajiwalla. Pic/Satej Shinde
Last month, Girgaum Magistrate Court convicted Viraf Kanga, authorised signatory of Maazda Dairy, under section 138 of the Negotiable Instruments Act, 1881, and sentenced him to six months imprisonment each for the five cases filed against him. Moreover, he was levied a fine of Rs 4,29,000. The Sidhpuras are eligible to receive this amount, which is double of what they had invested.
The court observed: ‘The complainant is entitled to get the compensation of Rs 4,29,000 from the recovered fine. Evidence produced by Sidhpura is cogent and trustworthy to hold disputed cheques were issued to satisfy legal liability.’
Speaking to mid-day, Sidhpura said, “I’m finally going to get my money back. It is after 15 years that the judgment has been passed in my case. I, along with my family, had invested in this company thinking that we would be reaping rich dividends. But the accused never made an attempt to keep us updated about the scheme. After sensing that something was fishy, I asked Kanga to refund the amount we had invested in his scheme. Later, he gave me five cheques, which bounced. We then decided to file a case against him. I attended all the hearings for the last 15 years.”
Sidhpura said, he along with his wife and two children had invested Rs 2,14,500 in the scheme pitched by Kanga, wherein they were promised higher returns than the market rate. A family friend had told them about this scheme. Sidhpura said he invested in the scheme only after doing a background check.
He added Kanga promised monthly returns of 7.5 per cent upon investing in Ahura Mazda Dairy Farm, which he mentioned on a Rs 20 stamp paper.
However, upon realising that Kanga had failed to live up to his promise, Sidhpura lodged five separate police cases against him and simultaneously filed equal number of petitions in the court in April 2000.
The Sidhpuras were represented Advocate J H Dhorajiwalla.