Rose Valley scam: TMC MP Tapas Pal’s bail plea rejected for second time
Pal, arrested for his alleged involvement in the Rose Valley chit fund scam, is now lodged at Jharpada jail here after completion of his remand period with the CBI.india Updated: Jan 08, 2017 01:36 IST
The Special Chief Judicial Magistrate’s Court in Bhubaneswar on Saturday rejected the bail petition of TMC MP Tapas Pal for the second time.
Pal, arrested for his alleged involvement in the Rose Valley chit fund scam, is now lodged at Jharpada jail here after completion of his remand period with the CBI.
The SCJM court, designated as the CBI court, had on Friday reserved judgement on Pal’s bail petition.
Judge P K Mishra on Saturday rejected the bail petition even as the TMC MP’s lawyer argued that his client was unwell and therefore, required bail. They had also offered to cooperate with the investigation.
The CBI counsel told the court that Pal did not cooperate with the investigating agency during his remand period.
The CBI lawyer also pointed out that the MP kept sleeping most of the time and complained about his health. Therefore, the agency could not extract facts from him.
Pal was arrested by the CBI from Kolkata on December 30 last year and was produced in a court in Bhubaneswar on the following day.
The parliamentarian, while working as a director of the Rose Valley Group in 2010, had allegedly appointed his relatives at different positions in the Group.
Rose Valley had allegedly collected Rs 450 crore from its investors in Odisha, a charge sheet filed by the CBI in January 2016 had said.
Earlier in the day, Pal was taken to Capital Hospital for a health check-up and sent to Jharpada Special Jail.
Another TMC MP Sudip Bandyopadhyay is also in the CBI custody after the court remanded him in six days’ custody.