Court dismisses OC official Jayachandrans bail plea

New Delhi: A Delhi court on Wednesday dismissed the bail plea of CWG organising committee`s former treasurer M Jayachandran, accused in the Timing-Scoring-Result (TSR) scam in which a Swiss firm was allegedly favoured causing a loss of over Rs 90 crore to the state exchequer.

Special CBI Judge Talwant Singh also rejected the anticipatory bail plea of A K Reddy, promoter of Hyderabad- based AKR constructions and imposed a cost of Rs 25,000 on him for seeking to recall its order of May 23 by which he was declared a proclaimed offender.

The court asked Reddy to deposit the fine with the Bar Council of Delhi by July 4.

AKR Construction was sub-contracted the TSR work by Gem International which, in turn, was a sub-contractor of Swiss firm–Swiss Timing.

Jaychandran was sent to jail on June 4 after he surrendered a day earlier before the court which had issued a non-bailable warrant against him on May 23.

CBI has accused Jayachandran of manipulating the minutes of OC`s Finance committee to justify the alleged forgery in the award of a contract.

The agency also accused him, former joint director general of accounts and finance in OC, of being "guilty of wilful and repeated falsification of records" and also of not revealing the true facts about the false statement made by V K Verma, Director General OC, regarding the budgetary provision of TSR system contract.