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7800 Crore Scam Accused Uday Desai Out Of Jail, Investigation Agency Oblivious

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abstract

On June 22, the judge of the High Power Committee, formed to release the prisoners on parole during the Corona period, granted interim bail to Uday Desai from jail itself.

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Frost International director and diamond trader Uday Desai, accused of a bank scam of about Rs 7820 crore, has been released on interim bail for 60 days. The surprising thing is that the order given by the special judge in jail under the guidelines of the High Power Committee did not enter the file of the special court set up to hear the company cases even after about 15 days.

His release came to light when Uday Desai filed an affidavit on his own bail plea pending in the Supreme Court. On the complaint letter given by the Serious Fraud Investigation Office (SFIO), the judge of the Special Court set up to hear the company cases has sought a report from the clerk.

On June 22, the judge of the High Power Committee, formed to release the prisoners on parole during the Corona period, granted interim bail to Uday Desai from jail itself. When Uday mentioned about his release from jail in his affidavit filed in the Supreme Court, the SFIO made up his mind to file revision in the High Court.

When SFIO’s standing advocate Kaushal Kishor Sharma inquired about the case, it was found that the bail order and bond had not yet been filed in the file going on in the court.

In the application given in the court on Wednesday, he said that Uday’s bail has been rejected by the High Court on March 25, 2021. Earlier, the interim bail application given on the basis of Kovid-19 has also been rejected.

During the hearing of the bail application in the jail, the side of the SFIO was also not heard. He raised doubts on the release of Uday Desai without the bail order being filed in the court file. He has demanded a copy of the order from the court.

what is the matter
Uday Desai, who was the Managing Director of Frost International Limited, which deals in Commodities and Merchant Trading and was the Director and Chairman of the Audit Committee of Mohan Steel Limited, is accused of defrauding banks to the tune of Rs 7820 crore by manipulating company accounts. A case was filed in the court on 15 May 2020 by the Serious Fraud Investigation Office. In this, along with Uday Desai, his son Sujay Desai is also accused.

Detailed

Frost International director and diamond trader Uday Desai, accused of a bank scam of about Rs 7820 crore, has been released on interim bail for 60 days. The surprising thing is that the order given by the special judge in jail under the guidelines of the High Power Committee did not enter the file of the special court set up to hear the company cases even after about 15 days.

His release came to light when Uday Desai filed an affidavit on his own bail plea pending in the Supreme Court. On the complaint letter given by the Serious Fraud Investigation Office (SFIO), the judge of the Special Court set up to hear the company cases has sought a report from the clerk.

On June 22, the judge of the High Power Committee, formed to release the prisoners on parole during the Corona period, granted interim bail to Uday Desai from jail itself.

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