May 18, 2002 | 1450 IST
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Money > PTI > Report May 18, 2002 | 1450 IST |
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Court hears Ketan's statement on police attack
In keeping with a court directive, the three accused were produced before Magistrate A B Shelar who recorded their statements in the presence of defence lawyers Amit Desai, Prenov Badheka and Amol Chougule. Their lawyers filed a complaint on Friday saying that their clients were victims of police harassment. The accused informed the magistrate that they were made to stand for hours facing a wall in the prison cell and were beaten up by cops. However, they could not see their faces and would not be able to identify the policemen who assaulted them. The accused further informed the magistrate that the cops had threatened to involve them in more scam cases unless they signed a memorandum of understanding and paid money to them. The magistrate, however, asked the three brokers to place in writing such allegations. Magistrate Shelar, hearing a complaint filed by the trio, had on Friday ordered the police to produce them in the court to record their statements. On May 15, the brokers were remanded to police custody till May 22 on the charge of duping European Investment Ltd, a Mauritius-based company. The court had also refused them bail. Ketan, Kartik and Jatin, directors of Triumph International Finance (India) Ltd, were arrested on the basis of a complaint filed by Briyanand Chaturvedi, the attorney for European Investments Ltd. The foreign company purchased and sold shares through Ketan's firm. In February last year, European Investment Ltd had placed an order with Triumph Investment Ltd to sell 550,000 shares of Global TeleSystems and 350,000 shares of Himachal Futuristic Communications. For this transaction, the company was to receive Rs 832.2 million, the complaint alleged. Ketan's firm issued cheques to meet this liability. However, the cheques were dishonoured. ALSO READ:
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Stock brokers Ketan Parekh, Kartik Parekh and Jatin Sarvaiya, held on the charge of swindling a foreign company of Rs 832.2 million, on Saturday alleged before a court that "they were beaten up by police who asked them to toe their line or face prosecution in similar scam cases."