Mumbai: A sessions court has refused pre-arrest bail to two persons—a former secretary, and a treasurer of a residential society in suburban Wadala, who are accused of misappropriation of funds and fraud, noting their custodial interrogation by police was required.A complaint was lodged in March this year by the owner of a flat in the housing society alleging that its former secretary Nikhil Toprani and ex-treasurer Vallabh Shah misappropriated society funds worth crores and committed fraud. As per the FIR, the duo allegedly prepared false bills and diverted society funds to the accounts of multiple individuals. It was also alleged that a sum of Rs 17 lakh was transferred from the society funds to an educational institute in Gujarat. The court held that there was a need for interrogation of both the accused.
