Saradha scam case: HC rejects Ramesh Gandhi's bail plea

Calcutta High Court today rejected the bail prayer of Ramesh Gandhi who was arrested by CBI in connection with the multi-crore Saradha chitfund scam.
A division bench comprising acting Chief Justice Nishita Mhatre and Justice Tapas Mukherjee rejected the plea.
Gandhi's counsels had prayed for bail on the ground that he has been in custody since September, 2015 and claimed that the investigation has not made much headway for long, so there was no need to keep him in judicial remand any more.
Opposing the plea, CBI counsel Ashraf Ali submitted that investigation was going on into Gandhi's role in the scam and releasing him at this juncture would affect the probe.

Claiming that he was associated with Saradha Group chief Sudipta Sen, Ali submitted that huge funds were allegedly transferred in his own and company accounts over setting up of an electronic media channel.
In another case related to the Saradha scam, the division bench rejected a prayer for cancellation of bail to Debabrata Sarkar, who was also arrested by CBI for his alleged links in the case.
The Alipore district and sessions court had granted bail to Sarkar in March 2015, which was challenged by CBI before the high court.
Sarkar had been arrested in August 2014.