Tue Nov 18 20:56:00 UTC 2025: Here’s a summary of the provided text and a rewrite as a news article:
Summary:
The Bombay High Court has ruled that film producer Boney Kapoor is no longer liable for interest payments on a ₹29 lakh sum related to a ₹57.7 crore deposit fraud case under the Maharashtra Protection of Interest of Depositors (MPID) Act. This decision follows the acquittal of the primary accused, Bhavana Thakkar, in May 2025. Kapoor had previously been ordered by the MPID Court in 2020 to pay interest on the borrowed sum. The High Court clarified that while the disbursement of unpaid investor dues will proceed as outlined in the May 13th judgment, Kapoor’s liability for further interest payments is now lifted. The case stems from allegations that Ajay and Bhavana Thakkar defrauded investors by promising high returns and failing to deliver.
News Article:
Boney Kapoor Cleared of Interest Liability in Deposit Fraud Case
Mumbai, November 19, 2025 – In a ruling delivered on November 10th, but released to the public on Tuesday, the Bombay High Court has absolved film producer Boney Kapoor from further interest liability regarding a ₹29 lakh sum connected to a larger ₹57.7 crore deposit fraud case under the Maharashtra Protection of Interest of Depositors (MPID) Act.
The decision comes after the acquittal of Bhavana Thakkar, the main accused in the 2003 fraud case, earlier this year on May 13th. Thakkar and her husband, Ajay Amrutlal Thakkar, were accused of collecting deposits from the public with promises of high returns, ultimately defaulting on payments.
In 2020, the MPID Court had directed Kapoor, as proprietor of Narsimha Enterprises, to pay 18% simple interest per annum on the borrowed ₹29 lakh, dating back to 2001. The court order was based on findings that Kapoor had borrowed the amount from Ajay Thakkar’s firm. Kapoor had contended that the loan was settled by transferring a Mercedes Benz car, however the court did not agree.
Justices Bharati Dangre and Shyam C. Chandak, presiding over the case, stated, “At this stage, no liability can be fastened upon the appellant, as the main accused has been acquitted and in any case, the appellant has not abided by the directions issued under the impugned order of deposit of interest, as directed and we shall clarify that in the wake of the Judgment, he is no longer liable to make the payment of interest.”
The High Court clarified that the disbursement of unpaid investor dues would proceed as outlined in the May 13th judgment, but Boney Kapoor no longer bears the financial responsibility for any additional interest payments. The MPID Act, enacted in 1999, aims to protect investors from fraudulent financial schemes.
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