In a major development in the 2G spectrum scam, five corporate executives, who were accused by the Central Bureau of Investigation or CBI were arrested and sent to Tihar Jail
In a major development in the 2G spectrum scam, five corporate executives, who were accused by the Central Bureau of Investigation or CBI were arrested and sent to Tihar Jail. The Delhi court Wednesday rejected their bail pleas, based on CBI's apprehensions that they may tamper with the evidence and may try to win over witnesses and also flee from justice in view of the magnitude of the offence, reports said.
What next? Gautam Doshi, at Patiala House court in New Delhi on
Wednesday. PIC/Imtiyaz Khan
The special court presided by the Additional Sessions Judge O.P. Saini, dismissed the interim bail applications of these five corporate honchos, seeking seven days to manage their business responsibilities in their absence. However, the court rejected the interim bail applications and sent them to the judicial custody.
"These apprehensions cannot be dismissed as too far-fetched at this stage in light of the serious nature of the case... In my considered opinion, it is not a fit case for bail," Saini said. The five corporate executive include Swan Telecom Director Vinod Goenka, Unitech MD Sanjay Chandra, and three top officials of Reliance ADA Group, Gautam Doshi, Surendra Pipara and Hari Nair.
The court had on April 15 reserved its order on the bail applications of these corporate Honchos. Besides them, the former Telecom Minister, A Raja, the Swan Telecom promoter, Shahid Usman Balwa, the former telecom secretary, Siddhartha Behura, and Raja's personal secretary RK Chandolia are the other accused in the jail.
Taking stock
Stocks of DB Realty plummeted by 11.5% to touch an intra-day low of Rs 94.60 on NSE. Later, the stock managed to trim much of its losses and finished lower by 2.71% at Rs 104.
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