A CBI special court, which is also the court for Enforcement Directorate (ED) cases, on Thursday granted interim conditional bail to S C Jayachandra, the suspended chief project officer of the State Highway Development Project.
The ED officials had arrested Jayachandra on charges of money laundering after
the seizure of a huge amount of cash in new currency of Rs 2,000 denomination in his possession by the Income Tax department.
The CBI special court judge Pradeep Balekai granted interim bail to Jayachandra till December 22. In the morning, Krishna Diskhit, senior counsel appearing for the ED, pleaded that the court hear the objections.
The matter was posted to post-noon. The court granted Jayachandra the interim bail with several conditions. The counsel for the ED then requested the court to modify the restrictions, stating that the officer was influential. Since the officer could not furnish the surety, the matter was posted to Friday for further modifications in the bail order.
The counsel appearing for Jayachandra said his client was threatened by an officer in mufti during the raid.
One of the officers who was in mufti that day denied such a thing happened. The judge accepted the submission.
The raids conducted by the Income Tax department on November 30 revealed that a few persons were in possession of new currency of Rs 2,000 and Rs 500 denominations. They are contractors Ibrahim Shereef (Rs 4.8 crore), Nazeer Ahmed (Rs 32.7 lakh), Chandrakanth Ramalingam (Rs 46 lakh) and Jayachandra (Rs 5 lakh).
The information from the I-T department stated that Secure Value India Ltd, in collusion with officials of public and private sector banks, had fraudulently diverted the new notes meant for depositing in the ATMs. The accused later exchanged the demonetised notes for new currency through middlemen.
The ED, on specific information, arrested Jayachandra for money laundering. According to sources, Jayachandra has laundered ill-gotten money through companies, either in the name of his wife and relatives or through benami companies.
Meanwhile, CBI, which registered an FIR against Jayachandra and others based on the report from the I-T department, has filed a body warrant petition before another CBI special court.
A senior official said that the court can write to the jail superintendent to produce the accused before it only when the latter is in judicial custody.
"On Thursday, though interim bail was granted, Jayachandra was remanded in judicial custody for a day. We will press for the execution of the body warrant application at the earliest," the official said.
![]( "S C Jayachandra, the suspended chief project officer of the State Highway Development Project, being taken to the special CBI court in Bengaluru on Thursday. DH PHOTO")
A CBI special court, which is also the court for Enforcement Directorate (ED) cases, on Thursday granted interim conditional bail to S C Jayachandra, the suspended chief project officer of the State Highway Development Project.
The ED officials had arrested Jayachandra on charges of money laundering after
the seizure of a huge amount of cash in new currency of Rs 2,000 denomination in his possession by the Income Tax department.
The CBI special court judge Pradeep Balekai granted interim bail to Jayachandra till December 22. In the morning, Krishna Diskhit, senior counsel appearing for the ED, pleaded that the court hear the objections.
The matter was posted to post-noon. The court granted Jayachandra the interim bail with several conditions. The counsel for the ED then requested the court to modify the restrictions, stating that the officer was influential. Since the officer could not furnish the surety, the matter was posted to Friday for further modifications in the bail order.
The counsel appearing for Jayachandra said his client was threatened by an officer in mufti during the raid.
One of the officers who was in mufti that day denied such a thing happened. The judge accepted the submission.
The raids conducted by the Income Tax department on November 30 revealed that a few persons were in possession of new currency of Rs 2,000 and Rs 500 denominations. They are contractors Ibrahim Shereef (Rs 4.8 crore), Nazeer Ahmed (Rs 32.7 lakh), Chandrakanth Ramalingam (Rs 46 lakh) and Jayachandra (Rs 5 lakh).
The information from the I-T department stated that Secure Value India Ltd, in collusion with officials of public and private sector banks, had fraudulently diverted the new notes meant for depositing in the ATMs. The accused later exchanged the demonetised notes for new currency through middlemen.
The ED, on specific information, arrested Jayachandra for money laundering. According to sources, Jayachandra has laundered ill-gotten money through companies, either in the name of his wife and relatives or through benami companies.
Meanwhile, CBI, which registered an FIR against Jayachandra and others based on the report from the I-T department, has filed a body warrant petition before another CBI special court.
A senior official said that the court can write to the jail superintendent to produce the accused before it only when the latter is in judicial custody.
"On Thursday, though interim bail was granted, Jayachandra was remanded in judicial custody for a day. We will press for the execution of the body warrant application at the earliest,” the official said.
The ED officials had arrested Jayachandra on charges of money laundering after
the seizure of a huge amount of cash in new currency of Rs 2,000 denomination in his possession by the Income Tax department.
The CBI special court judge Pradeep Balekai granted interim bail to Jayachandra till December 22. In the morning, Krishna Diskhit, senior counsel appearing for the ED, pleaded that the court hear the objections.
The matter was posted to post-noon. The court granted Jayachandra the interim bail with several conditions. The counsel for the ED then requested the court to modify the restrictions, stating that the officer was influential. Since the officer could not furnish the surety, the matter was posted to Friday for further modifications in the bail order.
The counsel appearing for Jayachandra said his client was threatened by an officer in mufti during the raid.
One of the officers who was in mufti that day denied such a thing happened. The judge accepted the submission.
The raids conducted by the Income Tax department on November 30 revealed that a few persons were in possession of new currency of Rs 2,000 and Rs 500 denominations. They are contractors Ibrahim Shereef (Rs 4.8 crore), Nazeer Ahmed (Rs 32.7 lakh), Chandrakanth Ramalingam (Rs 46 lakh) and Jayachandra (Rs 5 lakh).
The information from the I-T department stated that Secure Value India Ltd, in collusion with officials of public and private sector banks, had fraudulently diverted the new notes meant for depositing in the ATMs. The accused later exchanged the demonetised notes for new currency through middlemen.
The ED, on specific information, arrested Jayachandra for money laundering. According to sources, Jayachandra has laundered ill-gotten money through companies, either in the name of his wife and relatives or through benami companies.
Meanwhile, CBI, which registered an FIR against Jayachandra and others based on the report from the I-T department, has filed a body warrant petition before another CBI special court.
A senior official said that the court can write to the jail superintendent to produce the accused before it only when the latter is in judicial custody.
"On Thursday, though interim bail was granted, Jayachandra was remanded in judicial custody for a day. We will press for the execution of the body warrant application at the earliest," the official said.
A CBI special court, which is also the court for Enforcement Directorate (ED) cases, on Thursday granted interim conditional bail to S C Jayachandra, the suspended chief project officer of the State Highway Development Project. The ED officials had arrested Jayachandra on charges of money laundering after
the seizure of a huge amount of cash in new currency of Rs 2,000 denomination in his possession by the Income Tax department.
The CBI special court judge Pradeep Balekai granted interim bail to Jayachandra till December 22. In the morning, Krishna Diskhit, senior counsel appearing for the ED, pleaded that the court hear the objections.
The matter was posted to post-noon. The court granted Jayachandra the interim bail with several conditions. The counsel for the ED then requested the court to modify the restrictions, stating that the officer was influential. Since the officer could not furnish the surety, the matter was posted to Friday for further modifications in the bail order.
The counsel appearing for Jayachandra said his client was threatened by an officer in mufti during the raid.
One of the officers who was in mufti that day denied such a thing happened. The judge accepted the submission.
The raids conducted by the Income Tax department on November 30 revealed that a few persons were in possession of new currency of Rs 2,000 and Rs 500 denominations. They are contractors Ibrahim Shereef (Rs 4.8 crore), Nazeer Ahmed (Rs 32.7 lakh), Chandrakanth Ramalingam (Rs 46 lakh) and Jayachandra (Rs 5 lakh).
The information from the I-T department stated that Secure Value India Ltd, in collusion with officials of public and private sector banks, had fraudulently diverted the new notes meant for depositing in the ATMs. The accused later exchanged the demonetised notes for new currency through middlemen.
The ED, on specific information, arrested Jayachandra for money laundering. According to sources, Jayachandra has laundered ill-gotten money through companies, either in the name of his wife and relatives or through benami companies.
Meanwhile, CBI, which registered an FIR against Jayachandra and others based on the report from the I-T department, has filed a body warrant petition before another CBI special court.
A senior official said that the court can write to the jail superintendent to produce the accused before it only when the latter is in judicial custody.
"On Thursday, though interim bail was granted, Jayachandra was remanded in judicial custody for a day. We will press for the execution of the body warrant application at the earliest,” the official said.