The Supreme Court today rejected the appeal of businessman Dinesh Dalmia for bail in cases involving cheating of investors to the tune of Rs 594 crore. On a complaint made by Securities & Exchange Board of India(Sebi), CBI had started investigations but Dalmia had evaded arrest by going to the US. He entered India illegally and was arrested in Delhi and sent to Chennai. His bail application was rejected by the Madras High Court. The Supreme Court upheld the High Court view.According to Sebi, Dalmia was the managing director and custodian ofproperties, including shares, of DSQ Software. He fraudulently gotdematerialised unallotted and unlisted shares of the company in the name of New Vision Investment, UK, Dinesh Dalmia Technology Trust and a trustee of Softec Corporation. These shares were then sold in the market, and the sale proceeds were credited to the account of DSQ Holdings and a few other firms. Thus, he was charged with cheating, misappropriation and using forged documents.