Two owners of the Goodwin jewelery showroom chain, arrested for allegedly duping hundreds of depositors to the tune of over Rs 25 crore, were sent in police custody till December 24 by a court here on Saturday.
The firm's owners and whole-time directors A M Sunilkumar Akrakaran and A M Sudheerkumar Akrakaran, who are brothers, were produced before District Judge P P Jadhav who remanded them in the custody of the Economic Offences Wing.
The duo had surrendered before the special court for Maharashtra Protection of Interest of Depositors (MPID) Act on Friday.
The district judge, on Saturday, also directed the EOW to assess the assets of the accused duo, so that the duped investors could be repaid their money at least partially.
Hundreds of depositors of the Goodwin jewelery chain were left high and dry after it shut its outlets in several cities in Maharashtra, including neighbouring Mumbai and Pune, besides Thane, around Diwali this year.
As many as 1,154 customers were allegedly cheated by the chain.
Apart from the offence of cheating under IPC section 420, the two brothers were also booked under the MPID Act.
The Goodwin group had outlets in Navi Mumbai, Thane, Mumbai, Pune and Thrissur in Kerala.
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