High Court dismisses bail plea of Chartered Accontants, two others

A court in Chennai on Wednesday dismissed the bail plea of four people, including joint commissioner of income tax Salong Yaden. 

Last week, the CBI arrested Yaden along with two chartered accountants -the father-son duo of Sanjay Bhandari and Shreyans Bhandari -- and the managing director of Chennai-based real estate firm SPG and RG, Hitesh Kawad. 

Sources said Yaden had taken Rs 10 lakh from Sanjay Bhandari to settle a case. The case related to the recovery of gold, silver and other articles from Bhandari. 

The CBI said it was investigating a larger conspiracy where I-T officials, chartered accountants and businessmen joined hands to settle cases against companies and individuals for payment of huge amounts in bribe. 

The CBI booked them under Section 120-B (criminal conspiracy to commit an offence with a term of two years or upwards) and sections 7, 12 and 13(2) read with 13(1) D of the Prevention of Corruption Act, 1988. 

Additional public prosecutor submitted that bail could not be granted as the case was in the preliminary stage of investigation. 

J Krishnamoorthy, principal special judge for CBI cases, dismissed the bail plea and extended their remand till January 23. (Times of India)