SC gives Kampani no relief

The Supreme Court On Wednesday refused to give immediate relief to investment banker Nimesh Kampani, who sought anticipatory bail in the Nagarjuna Finance (NFL) case.

A bench headed by Justice Arijit Pasayat refused to give relief, saying the apex court would consider his bail application on the day Kampani surrenders.

However, the court said the matter would be taken up on May 4, the notified date of hearing.

Kampani and the other executives of Hyderabad-based NFL, a non-banking financial company, are under investigation for the firm’s alleged failure to return around Rs 98.3 crore collected from 85,160 depositors in 1997-98.

On April 14, an SC bench headed by Justice Altamas Kabir, while dismissing Kampani's petition to quash the criminal proceedings against him, had said the court orders would not come in the way of his applying for a bail.