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Money > PTI > Report May 24, 2002 | 1955 IST |
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Agarwal, Kedar remanded till June 7A Nagpur court on Friday remanded Sanjay Agarwal, CEO of Home Trade Ltd, to magisterial custody and allowed Central Bureau of Investigation to take over the case from the Crime Investigation Department of Maharashtra besides taking the accused to Mumbai for further investigations. In a related development, Judicial Magistrate First Class J G Dorle further extended till June 7 the remand of Sunil Kedar, former chairman of Nagpur District Central Co-operative Bank and prime accused in the Rs 1.5 billion government securities scam. Kedar, however, could not be produced in court on Friday as he was admitted to central prison hospital, the court was informed. CBI counsel Ezaz Khan, seeking Agarwal's custody, also sought permission for taking him to Mumbai for further investigation. Kedar's bail petition was on Thursday rejected by the court as prosecutor Prashant Sathianathan opposed it contending that Kedar was an influential person and hence might tamper with bank documents. Defence counsel Avinash Gupta argued that since the board of directors had been superseded, Kedar was no more chairman and did not have access to the documents. Moreover, an administrator had been appointed to look after the bank's affairs. Kedar and Agarwal are facing criminal charges under various sections of IPC in the Rs 1.5 billion government securities scam. ALSO READ:
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