Goenka is accused of forging company records, replacing directors and siphoning funds from businesses owned by Pathak. A Kolkata court on Tuesday denied bail to businessman Mahendra Goenka and remanded him to police custody till 1 August, observing that the allegations disclose a serious economic offence involving the alleged siphoning of funds worth crores, cheating of a bank and evasion of the legal process for the last two years.