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HC rejects Ketan Parekh's plea, leaves jurisdiction issue open

The Bombay high court on Thursday declined to entertain the plea of stockbroker Ketan Parekh that he may be produced before a competent court in Bombay in the event of his arrest in a case filed by Madhavpura Mercantile Co-operative Bank in Ahmedabad.

Justice A B Palkar also did not consider the plea of Ketan Parekh, accused in the pay order scam, for being lodged in police custody in Bombay in case he was denied bail.

Since Ketan had not been taken into custody yet in the case filed by MMCB, the judge said he would leave the question of jurisdiction open for the court before whom the broker would be produced in the event of his arrest.

Opposing his application, CBI prosecutor Vishwas Gupte and counsel for the state, Kiran Kapoor, contended that the high court could not invoke jurisdiction of Ahmedabad court.

Ketan is fearing arrest in a fresh case filed by MMCB in Ahmedabad particularly in the wake of CBI allegations that he had allegedly siphoned off huge amounts from the bank to a Swiss Bank account.

He had last month moved the high court seeking anticipatory bail. However, his plea was turned down on July 26 by the court which had stayed his order until today to enable him move an appellate court.

In view of the high court rejecting Parekh's plea, his arrest appeared imminent. Ketan stated in the petition that he had been advised by his lawyers not to file any proceedings in the Supreme Court.

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