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Ketan Parekh's police custody extended

Mumbai May 23 Additional Metropolitan Magistrate B A Shelar, today extended the police custody of stock brokers, Ketan Parekh, Kartik Parekh and director in their broking firm, Jatin Survai till tomorrow, in the Rs 83-crore misappropriation case.

While extending the police custody of the trio for another 24 hours, the magistrate asked Special Public Prosecutor H. H. Ponda to cite the reasons for which the Mumbai police needed further custody of the accused.

In reply, Mr. Ponda said he would satisfy the court on this issue.

The three were arrested by the Economic Offences Wing (EOW) of the Mumbai police on May. 15.

They were accused of cheating the Mauritius based European Investment Ltd.

UNI

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