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First Global chief Shankar Sharma gets bail

Additional chief metropolitan magistrate Ravindra Ghate on Friday granted bail to First Global chief Shankar Shashi Sharma who was arrested on Thursday night by city police for allegedly threatening an Income Tax officer.

While granting bail to Sharma, magistrate Ghate in his order directed the accused to furnish a surety of Rs 4,000 or a cash amount of Rs 4,000.

He also directed the accused to report to the Tardeo police station between 1700 to 1900 hrs for five days beginning on Friday.

Sharma was arrested from his residence in south Bombay, following complaints from the income tax authorities that he had obstructed the it officials from carrying out their search work during the recent raids on his offices and residence.

The raids were conducted by the investigative agency on several leading brokers in Bombay, including Sharma.

According to the prosecution case, Sharma was called by R Laxman, deputy director of Income Tax, for an investigation in an I-T case.

During the investigation, Sharma apparently did not co-operate with the officer and threatened him with dire consequences.

The Tardeo police has registered an offence under section 179/228/506 (2) of the Indian Penal Code.

Public prosecutor Sumesh S Kunjwani, while arguing on behalf of the Bombay police, contended to the court that the offence registered against the accused is non-bailable.

Advocate Firni Poonda arguing on behalf of Sharma informed the court that her client has been falsely implicated an the case.

It was also submitted that the alleged offence is non-bailable, but the metropolitan magistrate has the power to grant bail in such cases.

She urged the court to release the accused on conditional basis, which was granted by the court.

UNI

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