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Our Legal Correspondent

Kolkata, Nov. 28 A Division Bench of the Calcutta High Court comprising Mr Justice Amit Talukdar and Mr Justice Tapan Mukherjee rejected the bail prayer of Mr Dinesh Dalmiya, the prime accused in the Rs 120-crore Calcutta Stock Exchange (CSE) scam of 2001.

Mr Dalmiya, Chief of DSQ Software, allegedly cheated small investors by way of internal trading.

Police chargesheeted all the accused persons in June 2006.

Opposing the bail prayer, counsel for prosecution, Mr Bikash Ranjan Bhattacharya, Mayor of Calcutta, stated that if Mr Dalmiya is granted bail, there is serious apprehension of evidence being tampered. The trial has already been started, and the question of bail does not arise.

Following a complaint filed by the CSE in 2001, the Calcutta Police started proceedings against the accused persons allegedly involved in the scam. Mr Dalmiya, the key man, was the last arrested in March 2006 from Chennai.

Besides Mr Dalmiya, the other main accused are Mr Ketan Parekh, Mr Harish Biyani, Mr Kamal Parekh, ex-CSE President and some others.

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