The high court on Tuesday asked the Anti-Corruption Bureau (ACB) not to give effect to the lookout notice and arrest T N Chikkarayappa, suspended managing director of Cauvery Neeravari Nigam Limited (CNNL). He was found in possession of more disproportionate assets than the one detected by the I-T department last month.
Justice Anand Byrareddy gave this direction after Chikkarayappa expressed apprehension that he might be arrested based on the lookout notice even before the special court decides on his anticipatory bail application. As per the order, the officer cannot be arrested until the special court takes a decision on his bail plea. Chikkarayappa has agreed to cooperate with the probe being undertaken by the ACB.
Earlier, counsel for Chikkarayappa said only Rs 3 lakh was recovered from the house whereas the ACB claimed it is Rs 75 lakh. The agency said it had raided other premises and found wealth worth more than Rs 3.5 crore, much above his known sources of income.
Contractor gets bail in money hoarding case
The high court on Tuesday granted bail to civil contractor Chandrakant Ramalingam, who was found is possession of Rs 46 lakh, all Rs 2,000 new notes, during the I-T department raids last month. The order will be effective from February 2.
Earlier, senior advocate C H Jadhav, appearing for Ramalingam, argued that the CBI still has not arrested two private bank managers who were arrayed as accused much before the petitioner.Moreover, the agency has no jurisdiction vis-a-vis any issues pertaining to private sector banks, he claimed.
However, P Prasanna Kumar, special public prosecutor for CBI, said in view of the Banking Regulation Act encompassing even private sector banks under it as they are classified as public servants, the agency can proceed against them.
Justice Anand Byrareddy gave this direction after Chikkarayappa expressed apprehension that he might be arrested based on the lookout notice even before the special court decides on his anticipatory bail application. As per the order, the officer cannot be arrested until the special court takes a decision on his bail plea. Chikkarayappa has agreed to cooperate with the probe being undertaken by the ACB.
Earlier, counsel for Chikkarayappa said only Rs 3 lakh was recovered from the house whereas the ACB claimed it is Rs 75 lakh. The agency said it had raided other premises and found wealth worth more than Rs 3.5 crore, much above his known sources of income.
Contractor gets bail in money hoarding case
The high court on Tuesday granted bail to civil contractor Chandrakant Ramalingam, who was found is possession of Rs 46 lakh, all Rs 2,000 new notes, during the I-T department raids last month. The order will be effective from February 2.
Earlier, senior advocate C H Jadhav, appearing for Ramalingam, argued that the CBI still has not arrested two private bank managers who were arrayed as accused much before the petitioner.Moreover, the agency has no jurisdiction vis-a-vis any issues pertaining to private sector banks, he claimed.
However, P Prasanna Kumar, special public prosecutor for CBI, said in view of the Banking Regulation Act encompassing even private sector banks under it as they are classified as public servants, the agency can proceed against them.