| The timing of the development gains significance as the city criminal court is yet to decide whether an arrest warrant can be issued against Dalmia. |
| When produced before the Chief Metropolitan Magistrate today, the two arrested persons, Raj Kumar Sharma and Manmohan Mimani, were remanded in police custody till February 4. |
| Sources in Lal Bazar, the city police headquarters, said the accused were on the board of Barrel Trading Co. They said the documents in possession with the police showed that the firm was a front of Dalmia. |
| Incidentally, Mimani is the nephew of Harish Chandra Biyani, one of the defaulters of CSE. All the three defaulters - Biyani, A K Poddar and Dinesh Singhania - were arrested and spent 90 days in police custody. |
| Alongside, the uncertainty on issue of an arrest warrant by the CMM against Dalmia continued. After hearing the case today, the CMM fixed the next hearing for Thursday. |
| The uncertainty was precipitated when CMM recalled an arrest warrant issued earlier by itself after Dalmia filed a petition. |
| Police sources said the CMM order went against a Supreme Court verdict which said Dalmia could be arrested, if required, and directed the police to carry on investigation. |
| Dalmia, who hailed from the city, was close to a number of brokers. The police feel Dalmia and his local friends abused the cash lending mechanism of Stock Holding Corporation of India Ltd. |
| Dalmia was also reportedly instrumental in artificial price rigging in a couple his companies. |
| Police sources a local stock broking and DP service provider had converted physical shares of one Dalmia company in a week's time. |
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