July 31, 2002 | 2040 IST
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Money > PTI > Report July 31, 2002 | 2040 IST |
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CID fails to file chargesheet, Kedar applies for bailThe state CID, probing the Rs 1.5 billion-government securities scam involving Nagpur District Central Co-operative Bank, on Wednesday filed an affidavit in the trial court, stating they are unable to file the chargesheet against the then bank chairman Sunil Kedar within the stipulated 90-day period, which ended on Wednesday. Judicial Magistrate First Class M R Purwar took on record the affidavit which said that the chargesheet could not be filed within the stipulated period as investigations were incomplete and some more arrests had to be made in this case. Meanwhile, Kedar also moved bail application before the same court which will come up for hearing on Thursday. He has sought liberty on the ground that the CBI had not filed the chargesheet within the stipulated period. Kedar was arrested on May 3 following a complaint lodged by district auditor Bhausaheb Avsar in the Rs 1.5 billion-gilt scam. The complaint was lodged on April 29. Four days earlier, Kedar lodged a complaint with the police against five broking firms for non-physical delivery of gilts worth Rs 1.5 billion. Offences under section 406, 409, 468, 34 of the IPC were registered against Kedar and five broking firms namely Home Trade, Giltedge, Century Dealers (all from Mumbai), Indramanai Management Services, Kolkata and SyAhmedabad for allegedly duping the bank. During the course of investigation, Sanjay Agarwal of Home Trade, Ketan Sheth of Giltedge and Amit Verma of Syndicate Management Services (Ahmedabad) were arrested. Agarwal was twice taken to Mumbai and handed over to CBI which also sought his custody.
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