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Veritas analyst turns himself in to police for Indiabulls report

Indiabulls had lodged a complaint that Nitin Mangal had demanded money for holding back Veritas’ report against the firm.

By: ENS Economic Bureau | New Delhi | Published: November 28, 2014 1:44:38 am

More than two years after Indiabulls Group filed a police complaint against Canadian brokerage firm Veritas Research and its two analysts Neeraj Monga and Nitin Mangal for coming out with a scathing report against its group companies and alleging that Monga had demanded money for holding it back, Mangal finally surrendered before the Gurgaon police on Tuesday.

“Mangal surrendered on Tuesday and we produced him in court. He has been booked under Sections 383, 384 (extortion) and 420 (cheating) of the Indian Penal Code, in addition to Sections 66 A and B (sending offensive messages) and b (dishonestly receiving stolen computer resource) of the IT Act. He has been remanded in police custody till December 1,” said Sangeeta Rani, DCP West, Gurgaon confirming the development.

A source close to the development told that while Mangal had applied for anticipatory bail with the Supreme Court, the plea was rejected. He was thus left with no option but to make himself available to the police.

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