Police Ask Hc To Cancel Kamal Parekh Bail
Kolkata Police, investigating the Rs 120 crore scam that rocked the Calcutta Stock Exchange (CSE) in 2001, has moved Calcutta High Court challenging a Chief Metropolitan Magistrate (CMM) order that granted bail to CSE former president Kamal Parekh.
The petition filed by the police asked cancellation of the bail granted by the CMM. Parekh was kept behind the bar for 30 days while all other accused, including big bull Ketan Parekh, had to serve full term of 90 days.
Under the law, persons could be kept in custody for a maximum period of 90 days before filing of a charge-sheet.
Informed sources said the police felt that Parekh had received