Home / Crime and Justice / Bombay High Court Relieves Filmmaker Boney Kapoor of Interest Liability
Bombay High Court Relieves Filmmaker Boney Kapoor of Interest Liability
18 Nov
Summary
- Bombay High Court rules Boney Kapoor no longer liable to pay interest
- Kapoor previously ordered to deposit Rs 31 lakh in depositor fraud case
- Main accused Ajay Thakkar died, while Bhavana Thakkar was acquitted
In a significant development, the Bombay High Court has relieved renowned filmmaker Boney Kapoor of the liability to pay interest on an amount he was previously ordered to deposit under the Maharashtra Protection of Interest of Depositors (MPID) Act.
The case dates back to 2001 when the Mumbai Police's Crime Branch had registered a case against Ajay Thakkar and his wife Bhavana for allegedly duping hundreds of depositors of crores of rupees. During the investigation, it was found that Thakkar had transferred Rs 31 lakh to Kapoor's company, Narasimha Enterprises.
The MPID Court had subsequently directed Kapoor to return the Rs 31 lakh along with interest from 2001 to the depositors. Kapoor had deposited the principal amount without interest and challenged the order before the High Court.
However, the situation took a turn when Thakkar passed away, and Bhavana was acquitted by the court. In light of these developments, the High Court bench observed that no liability could be fastened upon Kapoor, as the main accused had been acquitted. The court clarified that Kapoor is no longer liable to make the interest payment.
