Special CBI Judge S C Rajan rejected the bail application of Paresh Chimanlal Budhdev, partner in Mumbai-based Chitale and Associates, considering the gravity of the offence and that the investigation of the case was at an initial stage.
"The present case is at an initial stage of investigation. The plea taken by the counsel for the accused/applicant that the CBI would not be able to file the charge sheet within 60 days, cannot be taken into consideration at this stage.
Budhdev had sought bail saying he was in custody for nearly two months and that he has not been named as accused in the FIR. He said his partner was interrogated by the CBI but not arrested.
He had also claimed that the CBI would fail to file the charge sheet within 60 days and so he may be released on bail.
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The CBI, however, had opposed his bail plea saying accused Ashok Kumar Singh used to give information to co-accused Khem Chand Gandhi who would further pass it on to the partner of Mumbai-based Chitale & Company and the matter is still under investigation.
CBI had earlier told the court that a large number of "incriminating" documents have been seized during the probe and the accused were allegedly procuring and passing on classified documents to others.