The Karnataka High Court on Tuesday deferred granting bail to Chandrakanth Ramalingam, the contractor and one of the accused in the illegal currency exchange racket.
Income Tax department sleuths had raided his house and found huge cash in Rs 2,000 notes. Justice Rathnakala, after having dictated orders granting bail to Ramalingam, deferred it till February 2, 2017.
Ramalingam is accused of possessing Rs 46 lakh in new currency notes. The notes, which were meant to be deposited in an ATM, were found in the houses of Ramalingam and others accused in the racket, the CBI had claimed.
Ramalingam approached the high court seeking bail on the grounds that he was a contractor and the money was kept for payment of salaries to his employees.
Senior counsel C H Jadhav, appearing for the petitioner, contended that his client would cooperate in the investigation and he should be granted bail. CBI counsel P Prasanna Kumar argued that Ramalingam is a powerful man and if bail is granted, there are chances that he would tamper with the evidence. The CBI, in its statement of objection, said custodial interrogation of the petitioner was imperative to unearth the "deep-rooted conspiracy" in the case.
![]( "Income Tax department sleuths had raided his house and found huge cash in Rs 2,000 notes. Justice Rathnakala, after having dictated orders granting bail to Ramalingam, deferred it till February 2, 2017. dh file photo")
The Karnataka High Court on Tuesday deferred granting bail to Chandrakanth Ramalingam, the contractor and one of the accused in the illegal currency exchange racket.
Income Tax department sleuths had raided his house and found huge cash in Rs 2,000 notes. Justice Rathnakala, after having dictated orders granting bail to Ramalingam, deferred it till February 2, 2017.
Ramalingam is accused of possessing Rs 46 lakh in new currency notes. The notes, which were meant to be deposited in an ATM, were found in the houses of Ramalingam and others accused in the racket, the CBI had claimed.
Ramalingam approached the high court seeking bail on the grounds that he was a contractor and the money was kept for payment of salaries to his employees.
Senior counsel C H Jadhav, appearing for the petitioner, contended that his client would cooperate in the investigation and he should be granted bail. CBI counsel P Prasanna Kumar argued that Ramalingam is a powerful man and if bail is granted, there are chances that he would tamper with the evidence. The CBI, in its statement of objection, said custodial interrogation of the petitioner was imperative to unearth the "deep-rooted conspiracy” in the case.
Income Tax department sleuths had raided his house and found huge cash in Rs 2,000 notes. Justice Rathnakala, after having dictated orders granting bail to Ramalingam, deferred it till February 2, 2017.
Ramalingam is accused of possessing Rs 46 lakh in new currency notes. The notes, which were meant to be deposited in an ATM, were found in the houses of Ramalingam and others accused in the racket, the CBI had claimed.
Ramalingam approached the high court seeking bail on the grounds that he was a contractor and the money was kept for payment of salaries to his employees.
Senior counsel C H Jadhav, appearing for the petitioner, contended that his client would cooperate in the investigation and he should be granted bail. CBI counsel P Prasanna Kumar argued that Ramalingam is a powerful man and if bail is granted, there are chances that he would tamper with the evidence. The CBI, in its statement of objection, said custodial interrogation of the petitioner was imperative to unearth the "deep-rooted conspiracy" in the case.
The Karnataka High Court on Tuesday deferred granting bail to Chandrakanth Ramalingam, the contractor and one of the accused in the illegal currency exchange racket.Income Tax department sleuths had raided his house and found huge cash in Rs 2,000 notes. Justice Rathnakala, after having dictated orders granting bail to Ramalingam, deferred it till February 2, 2017.
Ramalingam is accused of possessing Rs 46 lakh in new currency notes. The notes, which were meant to be deposited in an ATM, were found in the houses of Ramalingam and others accused in the racket, the CBI had claimed.
Ramalingam approached the high court seeking bail on the grounds that he was a contractor and the money was kept for payment of salaries to his employees.
Senior counsel C H Jadhav, appearing for the petitioner, contended that his client would cooperate in the investigation and he should be granted bail. CBI counsel P Prasanna Kumar argued that Ramalingam is a powerful man and if bail is granted, there are chances that he would tamper with the evidence. The CBI, in its statement of objection, said custodial interrogation of the petitioner was imperative to unearth the "deep-rooted conspiracy” in the case.