Bail denied to multi-crore scam accused Ajay Agarwal

Jamshedpur: In a significant development, a local court on Thursday rejected the bail plea of builder Ajay Agarwal, the alleged mastermind behind the multi-crore ‘Green Vatika’ housing scam in the Gamharia and Adityapur areas.

The court of Principal District and Sessions Judge Arvind Kumar Pandey refused to grant relief, observing prima facie that Agarwal played a central role in the fraud. 

The prosecution alleged that he duped investors of nearly  Rs 40–50 crore by promising houses and flats under the Green Vatika project but failed to deliver possession or complete construction.

Following complaints, the accused had reportedly absconded along with his family. He was later arrested by Sakchi police from a hotel in Ranchi on March 17 and has since been in judicial custody. His bail plea had earlier been rejected by the Chief Judicial Magistrate as well.

During the hearing, the court also expressed strong displeasure over the submission of an incomplete case diary by the police and directed authorities to present an updated version.  It further noted that several similar cases are pending against the accused, which could impact the investigation and trial if bail were granted.

Agarwal is said to be related to a politically influential businessman from Adityapur.  Multiple complaints have been lodged by victims across Sakchi, Adityapur, and Kadma police stations, along with several cheque bounce cases, highlighting the gravity of the alleged scam.