Special CBI court rejects Jignesh Shah’s bail plea
MUMBAI: The special CBI court on Monday refused to extend the police custody of FTIL promoter Jignesh Shah in connection with the case registered against him for cheating and forgery by the Central Bureau of Investigation (CBI).
The agency has alleged that Shah suppressed vital facts in getting Sebi extension to MCX-SX to continue as a private stock exchange, in violation of norms.
The central agency had on September 20 arrested Shah and obtained his custody for five days.
Shah was again produced before the special CBI court on Monday, and agency sought his custody for a few more days, alleging that he has not cooperated in the investigation.
The court, however, rejected CBI’s plea observing that the agency has shown no progress in the investigation.
It also rejected Shah’s bail plea, observing that the bail cannot be given at this stage, as the investigation is at a crucial stage and the possibility of tempering with evidence cannot be ruled out. The lawyers will now move the bail plea before the Bombay High Court.