The Hindu : National : Dinesh Dalmia remanded

Online edition of India's National Newspaper
Wednesday, Feb 15, 2006

National

National

Dinesh Dalmia remanded

Special Correspondent

CBI arrested him in Delhi on February 12

CHENNAI : A city court on Tuesday remanded Dinesh Dalmia, Director of the DSQ software company arrested in connection with the alleged Rs. 595 crore stock scam, to police custody till February 24.

Mr. Dalmia was arrested in Delhi on February 12 by the CBI and was brought to Chennai on a transit remandfor production before the court here. In the evening, he was produced before the Additional Chief Metropolitan Magistrate, Egmore, D. Arulraj. Initially, the court remanded the accused to judicial custody till February 28.

The charge sheet against Mr. Dalmia had been filed for offences under section 409 (criminal breach of trust by public servant, or by banker, merchant or agent) and 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code. Initially, he would be taken to Delhi for interrogation. The CBI also filed a memo before the court for further investigation in the case, a prosecution official said.

The CBI prosecutor, R. Soundararajan, told the court that Mr. Dalmia was evading arrest since 2003 and was absconding. He left India in 2003 for which an entry was there in his passport. But there was no entry in the passport regarding the date on which he returned to India. This showed that he was having more than one passport. Besides the CBI case in which he was arrested, he was wanted by the Kolkata Police.

Presenting a picture of the magnitude of the stock scam, the prosecutor said the end use should be unearthed.

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