The Andhra Pradesh High Court today dismissed the petition filed by JM Financial Chairman and Investment Banker Nimesh Kampani seeking anticipatory bail in a case relating to default on payments to the depositors of Nagarjuna Finance. Kampani was non-executive director on the board of Nagarjuna Finance.

In his petition, Kampani stated that he had resigned from Nagarjuna Finance in 1999 and the company defaulted after he left. He agreed to pay Rs 1 crore as surety, surrender his passport and cooperate with the investigating agencies but wanted an assurance that he would not be handed over to the police for custodial interrogation. Kampani had moved the Supreme Court contesting the AP court's earlier ruling that dismissed his request for bail. This is the second time that the court had dismissed his plea for an anticipatory bail.

Click here for Cloud Computing

Also Read   Related Stories News Now - NTPC not yet decided on filing plea in RIL gas row - Derivative scam: HC issues notice to Centre - Apex court sets aside HC order on Paradip Port - Bombay high court order to stop probe quashed - High court gives settlement commission a lease of life - HC rejects Jet's plea over Indland Air Travel Tax

Also Read   Related Stories News Now - Wall Street opens flat as data offsets Moody's warning - Thomas Cook India Q4 net jumps three times - Govt plans to make 30% sourcing from MSEs mandatory - Explain ways to cover govt loss on 3G roaming: TDSAT to telcos - Magma Fincorp plans to start gold finance biz in H1 of FY13 More

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Wall Street opens flat as data offsets Moody's warning - Thomas Cook India Q4 net jumps three times - Govt plans to make 30% sourcing from MSEs mandatory - Explain ways to cover govt loss on 3G roaming: TDSAT to telcos - Magma Fincorp plans to start gold finance biz in H1 of FY13

Tags : High Court | Nimesh Kampani | JM Financial | investment banker   Read Business news in  Advertisements -  Now property search gets more exciting than ever before! -  High Growth Business Opportunities in Africa - Register to explore -  Medium-sized businesses are the engines of a smarter planet. -  Save over Rs.3000 with IndianOil Citibank Card -  We live for our family. have you secured them? -  India's No. 1 Property Site. Click here to know more.. -  Diseases earlier, Saving Costs, Extending Lives. Know More.. -  Get 5% cashback on telephone bills with Citi -  Enjoy the journey as much as the destination. click to know more.. -  Exim Bank Conclave on India - Africa Project Partnership. Know more.. -  Be part of it The World's Largest Aircraft. -  Creating Wealth made simple the SIP way. Know more.. -  Only Developer to give a guarantee on time space & rate. -  Office 365 for professionals and small businesses. -  Buy Your Property with Our Triple Guarantee in India. -  Improve Patient Care & Experience. Click here to know more -  Win a Business Class Ticket to Europe..Know more.. -   Introduce a New Automotive Luxury Car.. know more -  Health is Wealth..... Insurance + Savings... Know More...