Odisha Sun Times Bureau
Cuttack, Jul 8:
The Odisha High Court today rejected the bail plea of fixer and real estate broker Subhankar Nayak, arrested by the CBI in connection with the multi-thousand crore chit fund scam in the state.
The High Court said Subhankar cannot be allowed to go on bail at a time when several important documents seized from his possession are under examination.
However, the single-member bench of Justice Raghuvir Das directed the CBI to complete its examination of documents seized from Subhankar within three months.
CBI counsel V Narsingh argued before the court that he should not be granted bail since several incriminating documents, including a diary containing the names of several influential politicians and bureaucrats, seized by the central investigative agency from Subhankar are being examined.
CBI had arrested Subhankar for his alleged links with Ponzi firm Seashore Group on November 18, 2014, hours after his house in Chandrama Apartments here was raided.
During its raid, the agency had seized a host of documents that proved his strong links in political and bureaucratic circles in the state.
Subhankar is currently lodged in Jharpada jail in Bhubaneswar.