Saturday,
July 28, 2001, Chandigarh, India
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Court for white paper on UTI scam Mumbai, July 27 Extending the custody of Subramanyam, suspended UTI Executive Directors M.M. Kapur and S.K. Basu besides stock broker Rakesh Mehta till August 3, Special CBI Judge S.R. Mehra described the alleged cheating of investors by the accused through fraudulent investment of Rs 32 crore in Cyberspace Limited, as a serious crime which had opened the Pandora’s Box. All aspects of the dubious investment in Cyberspace Limited that caused loss to the investors should be looked into and the CBI should come out with a ‘white paper’ to make sure that no angle was left uncovered, the judge said. Judge Mehra said they were accused of involvement in a shady deal and asked the CBI to unearth all investments of the public sector mutual fund giant in the tainted Cyberspace Ltd. The accused were arrested last Saturday and remanded in CBI custody till today. Mr Arvind Johari, Chairman, Cyberspace Limited (earlier known as Cyberspace Infosys Ltd), was arrested in Lucknow and brought to Mumbai a couple of days ago and placed under CBI remand till July 31. Another accused, UTI’s General Manager Prema Madhu Prasad, has not yet been arrested, though she has been interrogated several times. |
Life term for Punjab ex-Jail Minister Faridkot, July 27 Mr Jindal, while pronouncing the judgement in a case of murder registered against Upinder Sharma in 1992 also sentenced him to seven years imprisonment under Section 307 of the IPC for causing injuries to six other BJP workers in the town on the same day. Mr Jindal said both sentences would go concurrently. He fined him Rs 5,000 and in case of default of payment the accused would undergo further imprisonment of six months. |
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