Though the Central Bureau of Investigation (CBI) wanted a further remand of former UTI chairman P S Subramanyan for just a day, the court of special judge S R Mehra has remanded all the four accused in the case to judicial custody till August 7.
The remand application wanted Subramanyam in police custody till August 4, citing "that Subramanyam has not disclosed the particulars of his personal mobile phone till August 2".
The CBI, in its application to the court, said: "On August 2 also he (Subramanyam) did not disclose it (the particulars of the mobile phone) on his own but as a sequel to examination of some vital witnesses and after sustained interrogation. Particulars of call details of this phone have been requisitioned from the cell phone company. The same are likely to be received today."
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The investigation agency feels that Subramanyam "had deliberately withheld this information despite his interrogation since July 21. Hence, it is essential that he is confronted in custody with the information available in the call details of the mobile phone."
The CBI also claimed that some vital documents on the case were collected from UTI on August 2 and Subramanyam would have to be examined with reference to those documents.
The CBI informed the court that during the custody period it collected a large number of vital documents from UTI, SBI Capital Markets Ltd, UTI Securities Exchange Ltd, Bank of Rajasthan, Punjab National Bank, Punjab & Sind Bank, Bank of India and UTI Bank.
It claimed that during custodial interrogation Subramanyam along with M M Kapur and S K Basu (former executive directors, UTI) revealed that "investment decisions by UTI in various similar other cases may have been taken for reasons other than for commercial consideration or business expediency."
The CBI said that the police custody is not required for the other three accused -- M M Kapur, S K Basu and Rakesh Mehta.
"However, it is absolutely essential in the interest of proper, professional and expeditious investigation of this very important case that they are not granted bail at this stage," it said.