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Court turns down bail pleas of four accused in PNB scam

Press Trust of India  |  Mumbai 

A special here today rejected the bail pleas of four accused in the multi-crore (PNB) scam involving diamantaire

The four accused are Hemant Bhatt, authorised signatory of the group of firms, Arjun Patil, of (a firm), Miten Pandya, former in the firm and Manish Bosamiya, the then (Operations) of

The four were arrested in March by the CBI for their role in preparation of applications for fraudulent Letters of Undertaking (LoUs) submitted to PNB.

According to the probe agency, around Rs 11,400 crore worth of LoUs and Letters of Credit were fraudulently issued by PNB in favour of Modi and his uncle

The four accused had sought bail claiming that their custody was not required as charge sheet had been filed in the case.

J C Jagdale, however, rejected the bail pleas.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 22:50 IST