Noida court rejects interim bail plea of Bike Bot kingpin's brother

A court in Uttar Pradesh's Gautam Buddh Nagar district has rejected the interim bail application of Sachin Bhati, the brother of the Bike Bot scam's mastermind Sanjay Bhati, officials said on Monday. Noida-registered Garvit Innovative Promoters Limited (GIPL) had in 2018 come out with the multi-level marketing scheme ‘Bike Bot’ and lured investors with a promise of double returns in a year, police said.

A court in Uttar Pradesh's Gautam Buddh Nagar district has rejected the interim bail application of Sachin Bhati, the brother of the Bike Bot scam's mastermind Sanjay Bhati, officials said on Monday. There are 57 FIRs registered against Sanjay Bhati in connection with the multi-crore fraud case and a reward of Rs 50,000 was earlier announced on his arrest, they said. He had applied for an interim bail in 19 of these cases which were rejected by Gautam Buddh Nagar District and Sessions Court special judge Ved Prakash Verma on Saturday, a government lawyer said. "Sachin Bhati held no official position in Garvit Innovative Promoters, the firm that had launched the 'Bike Bot' project, but is accused of managing their funds,” lawyer Dharmendra Jaint said. "The court rejected 19 of his bail pleas considering the nature and seriousness of the crime," Jaint said. Noida-registered Garvit Innovative Promoters Limited (GIPL) had in 2018 come out with the multi-level marketing scheme ‘Bike Bot’ and lured investors with a promise of double returns in a year, police said. They sought Rs 62,100 in investment for a motorcycle taxi and assured monthly returns besides double the investment amount in just one year but failed to deliver on the promise. The firm has duped around 2.25 lakh investors to the tune of Rs 3,000 crore to Rs 4,000 crore across Uttar Pradesh, Haryana, Madhya Pradesh, according to a police estimate. Around a dozen people, including Bike Bot boss Sanjay Bhati have been arrested so far, police said.