Justice P K Bhasin dismissed Anand Tewari's plea that he be granted bail on a statutory ground alone as the CBI is not going to file the charge sheet against him within prescribed period of 90 days from the date of his arrest.
"In any case, before this court, the CBI counsel did not state that charge sheet shall not be filed within remaining prescribed period. This application is, therefore, dismissed," Justice Bhasin said.
Earlier, on complaints of Bank of Baroda, Punjab National Bank and Union Bank of India, the CBI, in July, had arrested P K Tewari and Anand Tewari, both directors of the channel, for allegedly producing fake invoices and chartered accountant certificates to secure Rs 34 crore loan from each bank. P K Tewari had already been granted bail.
Referring to reply of CBI to the bail plea of Anand Tewari, the court said that so far, the probe has "reflected" roles of the accused and the complicity of bank officials in disbursal of loans were being looked into.
"A perusal of the reply would show that the CBI had stated therein that even though the investigation conducted clearly reflected the role played by the accused but investigation was going on to find out the involvement of bank employees who could be responsible for the disbursal of loans to the company of the petitioner and his co-accused on the basis of forged documents," it said.
The court said though the statutory period of 90 days for filing the charge sheet would end on November 4, it "cannot be said at this stage that within the remaining statutory period for completion of investigation the CBI will not file its charge sheet against the petitioner".
The agency had registered the case in January on the complaints of the banks. According to the CBI, the directors had procured loans from three banks for expansion of the channel.
