CBI moves HC to get SEBI officials custody

The CBI on Friday approached the Gujarat High Court to get further remand of senior Securities and Exchange Board of India (SEBI) official Avarjit Singh,who was arrested for his alleged involvement in a corruption case.

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The CBI on Friday approached the Gujarat High Court to get further remand of senior Securities and Exchange Board of India (SEBI) official Avarjit Singh,who was arrested for his alleged involvement in a corruption case.

This comes days after a special CBI court refused to give Singh’s custody to the CBI and sent him to judicial custody at the Sabarmati Central Jail. The CBI has sought his remand for 11 days while contending that it wanted to interrogate him further to find out if any other official is involved in the case.

CBI counsel Yogesh Ravani said,The reason behind seeking Singh’s further remand is to locate the cellphone used by him. The cellphone is important as there could be several SMSes,video clippings and and a list of numbers which might help in the case. Besides,many more officials might also be involved in the case. So Singh needs to be interrogated further.

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He added that the court has posted the matter for hearing on Monday.

Singh,Deputy General Manager with SEBI,was arrested by the CBI from New Delhi on June 1 while his associate Ashok Mehta in Ahmedabad. Mehta was allegedly caught accepting a bribe of Rs10 lakh reportedly on behalf of Singh.

The duo is accused of helping out an Ahmedabad-based share trader whose company has come under the SEBI scanner following revelation of manipulation of Global Depository Receipts last year.

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