Date:06/04/2008 URL: http://www.thehindu.com/2008/04/06/stories/2008040653810400.htm

New Delhi

Bail plea by Nandas rejected

Staff Reporter

Alleged hand in destroying evidence of kickbacks in Barak missile deal

NEW DELHI: A court here on Saturday rejected bail pleas by arms dealer Suresh Nanda, his son Sanjeev Nanda, chartered accountant Bipin Shah and Income Tax Department Deputy Director Ashutosh Verma, all of whom are accused of conspiring to manipulate evidence that could apparently link the Nandas to Rs.400-crore kickbacks allegedly received by them in the Barak missile deal.

Special CBI Judge I.K. Kochhar rejected the bail pleas saying investigations were at an early stage and releasing the accused on bail at this point would hamper investigations. On Friday, the court had reserved its order on the bail plea following arguments.

Opposing the bail pleas, the CBI had argued that releasing the accused might affect investigations. The CBI counsel had also submitted transcripts of alleged conversation between Shah and Verma in which they apparently talked about derailing the investigating agency’s probe against the Nandas.

Suresh Nanda, his son Sanjeev (who is also the prime accused in the nine-year-old BMW hit-and-run case), Shah and Verma were arrested by the CBI on March 8 at a well-known hotel in Mumbai.

The accused had allegedly met there to discuss the alleged manipulation of certain documents that could link the accused to the kickbacks taken in the Barak missile deal. The said documents had been seized by Verma during an earlier raid at the Nandas’ residence in connection with non-filing of income tax returns.

The four accused have been booked under Section 120-B (criminal conspiracy) of the Indian Penal Code. The Ministry of External Affairs had earlier suspended the arm dealer’s passport at CBI’s request.