A city court on Monday rejected bail petition of Hinduja controlled Indusind bank’s senior vice-president S.N. Paul in connection with last year’s Rs 120 crore payment crisis at CSE. Paul was arrested on October 10 last along with former CEO and managing director of Stock Holding Corporation of India Limited B V Gaud for their alleged role in helping the key conspirators of the scam. Both were in judicial custody from October 24 till November 7. Rejecting the bail prayer, session’s court judge S Majumdar agreed with police contention that Paul’s custody was required as the interrogation was not yet completed.
