Dharmesh Jain and Rajeev Jain, the two brothers who are directors of Nirmal Lifestyle, a construction company, have been denied bail by the Esplanade metropolitan court in Mumbai. They were arrested last week in an alleged cheating case involving 29 buyers who filed a complaint with the economic offences wing.
The bail plea, argued by their counsel, claimed that the matter had been settled amicably with all the complainants, and the brothers had entered into consent terms with them. However, the court denied the bail plea and granted the investigation agency’s request for custody in another case.
The arrest of the two brothers is a significant development in the case. It is unclear at this stage what the specific charges are against them or the details of the alleged cheating. However, the fact that the investigation agency sought custody in another case suggests that there may be other charges or allegations against the brothers.
The construction industry in India has faced a number of challenges in recent years, including allegations of corruption, fraud, and poor quality construction. The arrest of the two brothers could be seen as a sign that the authorities are cracking down on illegal practices in the industry.
The denial of bail and the decision to grant custody in another case suggest that the authorities take the allegations against the brothers seriously. It remains to be seen what the outcome of the investigation will be and whether the brothers will be found guilty of any wrongdoing.