`Big bull’ Harshad Mehta scam cases trial to begin from January 18

These cases are being tried before the special CBI court and not before the special courts (trial of offences relating to transactions in Securities Act, 1992), because they either pertain to call money transactions or fall outside the securities scam period (April 1991 to June 1992).

CBI filed chargesheet against the `big bull’ and other bank officials on March 19, 1996 and the special court framed charge against them on March 13 1997. However, the accused challenged the special court’s order of framing charge against them in Mumbai High Court whichrejected their plea. Later, a division bench of the High Court stayed the proceedings in the trial court after hearing an application moved by accused Vinayak Deosthali, former assistant manager of United Commercial (UCO) Bank, on the point of providing free legal aid denied by the special judge.However, another bench comprising Justice N J Pandya and Justice S S Parkar vacated the stay recently and asked the special court to hear the trial expeditiously.

CBI, this week, moved an application before the special court urging for early commencement of trial following which the judge decided to hear these cases from January 18 next.