Pal, arrested in Kolkata on December 30 and brought to Odisha the next day, was produced in the Special Chief Judicial Magistrate (SCJM) court, designated as the CBI court, after the expiry of his six-day remand in two phase.
The MP's lawyer Sabyasachi Banerjee had earlier moved a bail plea but SCJM P K Mishra reserved judgement on it and sent Pal to Jharpada jail here till January 19.
"My client is clinically ill and he requires bail on health ground," Banerjee told reporters outside the court.
Pal was arrested on December 30 by CBI for his alleged involvement in the multi-crore Rose Valley chit fund scam. He was taken on remand in two phases by the CBI from December 31.
During the first phase of his remand period, Pal had complained about his health and spent most of the time at the Capital Hospital.
CBI in its petition to the court said that Pal was one of the directors of the chit fund group in 2010.
In its charge sheet submitted at the court here on January 7, 2016, CBI had charged the chit fund of defrauding investors of Rs 17,000 crore, out of which Rs 450 crore from Odisha alone.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
