Harshad Mehta’s brother nabbed in Pune after 14 years

Sudhir Shantilal Mehta, brother of the deceased stock broker Harshad, who allegedly engineered a stock market scam in 1995, was arrested by the criminal investigation department (CID), for his alleged involvement in the scam, which the officers claimed was to the tune of Rs87 lakh. 

Mehta was arrested near a hotel in Pune on Saturday and produced before the court of judicial magistrate (first class) on Sunday. He was remanded in police custody for 14 days.
Assistant public prosecutor PD Parmaj argued for 14 days’ police custody. He said Mehta was nabbed after 14 years and would have to be taken to Ahmedabad and Mumbai for investigations.
Parmaj claimed that Mehta had breached court orders by indulging in share market transactions through a third person in spite of a ban by the court. He said two more suspects, viz Mangal Jain and Amit Shah are yet to be arrested and Mehta would have to be interrogated for the same.

A resident of Pune, Shrikant Gopal Rathi had lodged a complaint against 10 people including Mehta, for their alleged involvement in the 1995 scam.