Rose Valley scam: Tapas Pal again denied bail

Bhubaneswar: The special CJM (CBI) court today rejected the bail petition of Rose Valley chit fund scam accused and TMC MP Tapas Pal again for the second time. The court had reserved the verdict of the bail hearing yesterday.

Tapas, who is under judicial custody after being arrested by the CBI in the multi crore ponzi scam, had earlier moved the court seeking bail on health ground. The court had rejected his plea following the argument of CBI counsel that the investigating agency could not interrogate Pal as the MP kept sleeping most of the time and complaining about his health. Therefore, the agency could not extract facts from him, the CBI counsel had contended.

Pal was arrested by central probe agency from Kolkata on December 30 and was produced in court in Bhubaneswar in the following day.

The parliamentarian, while working as a director of Rose Valley Group in 2010, had allegedly appointed his wife, daughter and niece in different positions. He was arrested from Kolkata by the CBI on 30 December and brought to Bhubaneswar on 31 December.

Rose Valley had allegedly taken Rs 450 crore from its poor investors in Odisha, a chargesheet filed by the CBI in January 2016 had said.