Unitech up 3%, SC refuses to cancel director's bail

Written By Unknown on Senin, 24 Maret 2014 | 16.03

CBI had alleged that Chandra had misused the relief given to him by approaching Singh and trying to "materially interfere" with the prosecution in an "attempt to influence" the conduct and outcome of the trial.

Shares of  Unitech were up 3 percent intraday on Monday. The Supreme Court has rejected the CBI plea to cancel director Sanjay Chandra's bail.

The CBI had alleged that Sanjay Chandra tried to influence the public prosecutor in the 2G  spectrum case. It had said that Chandra had misused the relief given to him by approaching Singh and trying to "materially interfere" with the prosecution in an "attempt to influence" the conduct and outcome of the trial. It has alleged that conduct of Chandra was questionable during the period of bail as he was found holding discussion with the prosecutor about crucial witnesses.

A bench headed by Justice HL Dattu turned down the plea of CBI which had approached the apex court for cancellation of bail after Chandra was allegedly caught on tape trying to influence AK Singh, the then public prosecutor in the case. The apex court said it is "not appropriate at this stage" to recall its order of November 23, 2011 by which the business tycoon was granted bail in the multi-crore scam.

At 14:01 hrs, the stock was quoting at Rs 11.96, up Rs 0.30, or 2.57 percent on the BSE.

With inputs from PTI


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