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Ketan, Kartik, Pandya remanded to judicial custody till May 9

Leading stock broker, Ketan Parekh, his cousin Kartik Parekh and J B Pandya Manager of Madhavpura Bank's Mandvi branch, embroiled in the Rs 1.37-billion pay-order scam, were on Thursday further remanded to judicial custody till May 9 by a special court in Bombay.

The designated judge A R Joshi did not consider an oral bail plea of the accused and asked the defence counsel Mahesh Jethmalani to file a written bail plea on the next occasion.

Meanwhile, the Gujarat police, which is currently in Bombay, filed an application in the court seeking custody of Ketan and Pandya on the grounds that they were required in a case filed in Ahmedabad by the administrator of Madhavpura Bank.

The court was also informed that a public interest litigation has been filed in the Gujarat high court seeking transfer of investigations from the state CID to the CBI.

The special court felt that unless the state high court decides the matter, it would not be able to take a decision on the Gujarat police's request for transfer for custody of the two accused.

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