Court Rejects Bail Pleas Of CSE Accused

Kolkata, October 17: | Updated: Oct 18 2002, 05:30am hrs
A city court rejected bail petitions of former managing director and CEO of Stock Holding Corporation of India Limited (SHCIL) B V Gaud and Hinduja- controlled IndusInd Banks vice-president Santinath Paul and extended their police remand till October 24.

The court also rejected the bail plea of managing director of SREI Securities, a subsidiary of SREI International Finance Limited, Dinesh Jain and remanded him to judicial custody till October 31. Gaud and Paul were arrested on October nine for alleged involvement with the main conspirators of Rs 120 crore scam at the CSE in March, 2001. Jain was arrested on October three for his alleged involvement with one of the key conspirators of the scam, Dinesh Kumar Singhania. Singhania is also alleged to be an accomplice of big bull Ketan Parekh. (PTI)