A non-bailable warrant was on Monday issued against former state minister and Congress legislator Sunil Kedar.
The former chairman of Nagpur District Central Co-operative Bank is a prime accused in a scam that runs to the tune of Rs 125 crore.
Kedar, who had sought exemption from attending court proceedings, appeared before the court on Monday.
Besides Kedar, 10 others are allegedly involved in the scam.
The Judicial Magistrate First Class S.K. Upadhaya rejected the plea citing high court orders that the trial be expedited.
So far, none of the accused was attending court proceedings together due to which evidence could not be recorded and the trial could not begin.
Kedar has been accused of being instrumental in investing Rs 125 crore in G-secs (government securities) and preparing fictitious documents.
In 2002, when Kedar was the bank’s chairman, the bank lost around Rs 125 crore in G-secs dealings.
The alleged scam involved taking depositors’ money to buy government securities that were never delivered.
Meanwhile, the court granted bail to Kedar on Monday.
{{/usCountry}}Meanwhile, the court granted bail to Kedar on Monday.
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