PANAJI
Prominent realtor Venkatesh Prabhu Moni who owns Prabhu Constructions has landed in the Colvale jail after his appeal against a conviction by the Mapusa JMFC in a cheque bouncing case was dismissed by the Sessions Court in Panaji on Saturday.
While police personnel escorting Moni was tight-lipped, Moni was whisked away from the court complex at Altinho in a police jeep and reportedly taken for the mandatory medical check-up before being lodged at the Colvale jail.
Moni had issued a cheque of Rs two-odd crore to a private firm he owed the money to around three years ago. However, the firm Shri Sahajanand Investments Pvt Ltd, sued the builder after the cheque bounced.
He was then convicted in the matter three months ago and on Saturday his appeal against the conviction was dismissed by the Sessions Court.
Moni's firm had shot to fame around two decades ago after it took over the then abandoned 'Alfran Plazza' project in the heart of the capital city. Its swift completion and commercial success had earned the company goodwill at a time when Panaji's real estate market had hit a recessionary patch.
