The Hindu Business Line : Biyani gets bail in CSE scam case

A DIVISION bench of the Calcutta High Court, comprising Mt Justice N.A. Choudhury and Mr Justice Alok Kumar Basu, today granted bail to Mr Alok Biyani, who was the 20th accused in the Rs 120-crore Calcutta Stock Exchange (CSE) scam.

The Court stipulated certain conditions directing that Mr Biyani shall not leave the jurisdiction of Calcutta High Court without taking permission of the authority and shall meet the investigating officer on Tuesdays and Fridays every week, till further orders, with two sureties of Rs 10,000 each.

Mr Biyani was arrested by the Calcutta Police on the night of July 31, 2004 from Calcutta Airport when he was allegedly trying to leave the country. Mr Biyani is one of the prime suspects in the Rs 120-crore scam, in which Mr Ketan Parekh of the BSE was also involved and was arrested thereafter.

In this case, the police arrested all 20 accused who are associated with the suspect of the said scam but bail was granted as the police could not frame the charge sheet within the statutory period of 90 days.

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Biyani gets bail in CSE scam case