Tainted CSE Brokers Likely To Seek Anticipatory Bail

Kolkata, September 27: | Updated: Sep 28 2002, 05:30am hrs
With six leading brokers already in the net, the Kolkata police have stepped up efforts to arrest three other prime suspects in the Rs 120 crore March 2001 payment crisis at the Calcutta Stock Exchange which led to a nationwide crash of bourses.

Detective Department sleuths of the city police were raiding different areas for the other tainted CSE brokers who managed to evade arrest on Wednesday amidst indications that the absconding brokers might seek anticipatory bail.

The police, which is acting on a FIR filed by the CSE on September 9, was now looking for Dinesh K Singhania, Ashoke Poddar and his wife Prema.

Deputy Commissioner of Police Soumen Mitra said, We have already arrested six brokers, and are on the pursuit of others. We will have to probe the scam in detail.

Raids were on and banks have been informed to freeze the accounts of those named in the FIR, he said.

The Kolkata Police during night-long raids arrested six leading brokers on Wednesday for their alleged role in the payment crisis at the CSE one and half years ago. All of them have been remanded to police custody till October four.

The brokers have been charged with violating CSEs conditions of payment as well as indulging in circular trading, embezzlement of funds and duping the public to the tune of Rs 120 crore.

The full-scale investigation by Kolkata Police came after several inquiries conducted by the JPC and Sebi.