India News | Court Rejects Bail Plea of Financial Fraud Accused, Remands Him in Police Custody
Get latest articles and stories on India at LatestLY. A special court here on Monday sent Shantilal Surana, accused of duping unsuspecting investors of around Rs 1,900 crore, to nine days of police custody, rejecting his bail prayer.
Kolkata, Apr 25 (PTI) A special court here on Monday sent Shantilal Surana, accused of duping unsuspecting investors of around Rs 1,900 crore, to nine days of police custody, rejecting his bail prayer.
Surana, who ran a ponzi scheme company, was arrested by the Directorate of Economic Offences on April 21 under the West Bengal Protection of Interest of Depositors in Financial Establishments Act, 2013.
Special court judge Parthapratim Chakraborty, third additional district judge, Alipore, remanded Surana in police custody for nine days till May 3.
Opposing his bail prayer, special public prosecutor Radhakanta Mukherjee prayed for his police custody, submitting that he is accused of several offences under the Act.
Also Read | Uttar Pradesh Shocker: Man Stabbed to Death by Uncles on Busy Meerut Street as Passersby Watch.
Mukherjee said that the DEO is investigating nine cases under the Act against Surana, of which four are being heard by the special court at Alipore.
On April 22, following his arrest, the court had remanded Surana in police custody till Monday.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)