Friday, May 24, 2002
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Maharashtra
JMFC J. G. Dorle, who had earlier reserved order until today, rejected Kedar's bail petition on merits. Kedar, who had been placed in magisterial custody till tomorrow, had urged for liberty. But the prosecution opposed his plea vehemently on the ground that the scam money had not been recovered yet and interrogations were not over. Prosecutor Prashant Sathianathan contended that Kedar, booked along with bank general manager of the bank and five broking firms, was an influential person and would tamper with witnesses if released on bail. He said Kedar, a former minister of state in Maharashtra Cabinet, was in a position to dominate and control activities of persons connected with the crime. Except Home Trade CEO Sanjay Agarwal, all the accused (directors of other broking firms as well as Home Trade) were yet to be arrested. PTI
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