The Designated Court under the M.P.I.D. Act in Mumbai has rejected bail for Anilbabu Venkatnarayan Karlapudi, accused in a financial scam amounting to over Rs. 14 crore.
On January 18, 2024, Judge Aditee Uday Kadam denied bail to Karlapudi, who was charged with defrauding his former employer, M/s. D.S.V. Air and Sea Pvt. Ltd., by approving fake invoices through his position as a manager. The investigation revealed a complex scheme involving multiple companies and fake transactions, leading to significant financial loss.

The prosecution highlighted Karlapudi’s direct involvement in the scam, the ongoing nature of the investigation, and the risk of him tampering with evidence or absconding. Despite defenses citing no direct financial gain proven against Karlapudi, the court found the evidence compelling enough to deny bail.

This case underscores the judiciary’s approach to economic crimes, emphasizing the need for thorough investigation and the protection of the financial integrity of companies.