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Tilakwadi police subsequently registered an FIR on June 6 against company chief Balraj Rohidas Mane and others.
Welcoming the judgment, Mane said he had confidence in the judiciary. The court has delivered justice to us, and that is why it ruled in our favour,” he said. Belagavi : The Karnataka high court has quashed an FIR registered against directors of Bhagyanagar-based Adityaraj Capital Pvt Ltd, providing relief to the company management. Following the inquiry, police, cooperation and revenue officials jointly raided the company’s Bhagyanagar office. The premises were sealed and its bank accounts frozen under the Karnataka Protection of Interest of Depositors in Financial Establishments (KPIDFE) Act and the Banning of Unregulated Deposit Schemes (BUDS) Act. The investigation was later transferred to the CID . A bench headed by Justice M Nagaprasanna quashed the case registered by Tilakwadi police. “We have not cheated anyone.
Mane challenged the FIR before the Karnataka high court.