Archive · 23 May 2025
Woman Acquitted in 22-Year-Old, ₹51.7 Crore Cheating Case
Imagine a company that promised people big money if they invested.
Bhavana Thakkar was accused of being part of this company.
People gave the company money, expecting a lot of it back with interest.
However, after a while, the company stopped giving people their interest money.
The government then investigated if the company was cheating people.
After 22 years, a judge said that it wasn't proven that Bhavana was in charge, or that she meant to trick anyone, so she was found not guilty.
The judge decided there wasn't enough evidence to say she did anything wrong.
Her husband, who was also accused, died during the case.
Bhavana Thakkar, 61, has been acquitted in a 22-year-old cheating case.
The case involved a financial institution accepting deposits with promises of high returns.
The court stated it couldn't establish Thakkar accepted deposits or intended to deceive.
Her husband, also accused, died by suicide, and the case against him abated.
The firm stopped paying interest from March 2001 onward.
- Who
- Bhavana Thakkar was acquitted in a 22-year-old cheating case.
- What
- Thakkar was accused of cheating the public of ₹51.7 crore by promising high returns on deposits.
- When
- The case began in 2001, and the court acquitted her after 22 years.
- Where
- The case took place in Mumbai, India.
- Why
- The court found it wasn't established she accepted deposits or intended to deceive investors.
- Amount Involved
- ₹51.7 crore
- Case Duration
- 22 years
- Defendant
- Bhavana Thakkar
- Co-accused
- Ajay Thakkar
- Location
- Mumbai, India
- Legal Framework
- MPID Act