THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Saturday, August 04, 2001

• AGRI-BUSINESS
• COMMODITIES
• CORPORATE
• INDUSTRY
• MACRO ECONOMY
• MARKETS
• NEWS
• OPINION
• INFO-TECH
• CATALYST
• INVESTMENT WORLD
• MONEY & BANKING
• LOGISTICS

• PAGE ONE
• INDEX
• HOME

News | Next | Prev


Subramanyam used a personal mobile phone: CBI

Our Bureau

MUMBAI, Aug. 3

THE Central Bureau of Investigation (CBI) today told a special court hearing the UTI scam that Mr P.S. Subramanyam, former Chairman, UTI, had ``admitted to using a personal mobile phone, the particulars of which were not disclosed by him till late yester day''.

The CBI also told the court that he did not disclose it on his own but as a ``sequel to examination of some vital witnesses and after sustained interrogation''. It said the details of the phone had been sought from the phone company and they would be ava ilable today. It also alleged that Mr Subramanyam had deliberately withheld the information from the CBI despite his interrogation in custody since July 27.

The CBI Special Judge, Mr S.R. Mehra, later remanded all the four accused, including Mr Subramanyam, to judicial custody till August 7.

The CBI had asked for one day's police custody for Mr Subramanyam and rejection of bail application of the Executive Directors, Mr M.M. Kapur and Mr S.K. Basu, and stockbroker, Mr Rakesh Mehta. It said even though it did not need the custody of Mr Kapur, Mr Basu and Mr Mehta, they should ``not be granted bail at this stage in the interest of proper, professional and expeditious investigation of this very important case''.

The defence counsels told the court that all the accused had been in custody for nearly 14 days and all the incriminating documents had been seized by the CBI. They said there was no need for their custody any more.

Mr Subramanyam said in his bail application that he had been made a scapegoat and all the accusations made against him and his colleagues were false. The decision to invest in the private placement of Cyberspace was a business and investment decision tak en to help a backward State, which was at the initiative of the UP Government.

Related links:
Subramanyam bail plea rejected
Former UTI chief, 2 EDs remanded
Cyberspace Infosys promoter remanded to CBI custody

Comment on this article to BLFeedback@thehindu.co.in

Send this article to Friends by E-Mail


Next: `IDBI sought report on select deals'
Prev: Technology does not recognise slowdown: Barrett
News

Agri-Business | Commodities | Corporate | Industry | Macro Economy | Markets | News | Opinion | Info-Tech | Catalyst | Investment World | Money & Banking | Logistics |

Page One | Index | Home


Copyright © 2001 The Hindu Business Line.

Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line.