New India Bank fraud: No court relief for accused

Mumbai: Considering the role of many accused, the huge amount of money, and the chances of the accused absconding and destroying evidence, the magistrate's court rejected the bail plea of Javed Aazam. Javed is the younger brother of the BJP's former Maharashtra secretary, Hyder Azam, and was arrested by the city Economic Offences Wing probing the alleged misappropriation of Rs 122 crore from New India Cooperative Bank.
It is alleged that the accused opened showrooms named "Digital Duniya" with Rs 18 crore fraud amount. tnn