The Gujarat CID Crime Branch had filed a 22,000-page chargesheet in the Ahmedabad Rural Court against Bhupendrasinh Zala, the prime accused and mastermind behind the BZ Group financial scam worth ₹420 crore, along with ten other accused individuals and companies.

Following the submission of the chargesheet, six accused who are currently in jail had applied for bail, but their petitions were rejected by the court. 

The court ruled that the accused were actively involved in the scam, which was a systematic and well-planned conspiracy to defraud innocent investors of their money. Citing the seriousness of the crime, the court denied bail, stating that granting it would not be appropriate.

During the hearing, prosecutor Pravin Trivedi opposed the bail plea, arguing that the BZ Group orchestrated a large-scale scam involving ₹422.96 crore from 11,183 investors. Out of this amount, ₹172 crore is still pending for repayment to 6,866 investors and argued that no accused should be given bail.

The scam operated through 11 companies under the BZ Group banner, with branch offices spread across multiple locations, including Ranpur, Himatnagar, Modasa, Khedbrahma, Malpur, Godhra, Vijapur, Bayad, Lunawada, Gandhinagar, Rajula (Amreli), Anand, Bhiloda, Palanpur, Prantij, Vadodara, Dungarpur, and Raigad.

List of accused whose bail was denied:

Vishalsinh Zala

Dilipsinh Solanki

Aashik Bharathari

Sanjaysinh Parmar

Rahulkumar Rathod

Ranvirsinh Chauhan