INDIA BUSINESS WORLD - JULY 1st - JULY 31st - 2008
SUPREME COURT GIVES CBI GREEN LIGHT TO ARREST KETAN PAREKH
THE Supreme Court has given go-ahead to the Central Bureau of Investigation (CBI) to arrest stockbroker Ketan Parekh in connection with the Madhavpura Mercantile Co-Operative Bank case, reports Sanjay K Singh in New Delhi. A bench comprising Justice Ashok Bhan and Justice VS Sirpurkar turned down the plea of Parekh seeking extension of time to pay the instalment amounting to Rs 26.43 crore which was scheduled to be paid on May 1, 2008. “Since the applicant (Parekh) failed to comply with the conditions of bail, he may be arrested,” observed the apex court. The Supreme Court on May 17, 2007 had said the instalments must be paid promptly on or before the specified dates. In case of default, the bail granted to the Parekh shall deemed to be cancelled.
|
