The Bombay High Court granted bail to Ketan Kadam, CEO of Virgo Specialties Pvt Ltd, who was arrested for his alleged involvement in a ₹65.54-crore fraud concerning desilting contracts for Mumbai's Mithi River. The court stated that the evidence presented did not support the prosecution's allegations against him, leading to his release on a bail bond of ₹30,000. Kadam, along with director Jay Joshi and 11 others, was charged by the Economic Offences Wing (EOW) of the Mumbai Police last year. The allegations included inflated tenders and financial irregularities related to contracts awarded between 2019 and 2024. The police discovered that several contractors submitted forged MoUs, falsely claiming the provision of machinery for the desilting work. Kadam's legal team argued that he had no direct involvement in the contracts, and the court agreed, noting that senior civic officials allowed contractors to engage other services. The court concluded that Kadam posed no flight risk and had no prior criminal history, justifying the bail decision.