AHMEDABAD: A special court here on Friday granted to the Central Bureau of Investigation (CBI) a one-day transit remand of four people held in the Initial Public Offering (IPO) scam and allowed it to take them to Mumbai.
Special CBI judge Z.K. Saiyyad ordered the probe team to produce Deepak Panchal and three others, arrested in a major fraud in the allotment of IPO issues of YES Bank and Infrastructure Development Finance Company (IDFC), in the Mumbai CBI court by 5:30 pm on Saturday.
The accused have allegedly amassed gains of about Rs 320 million by making fictitious share transactions of YES Bank and IDFC. Deepak Panchal is the brother-in-law of the main accused Roopal Panchal, while the other three - Parag Zhaveri, Dhiren Vora and Jayesh - are share brokers.
The accused were arrested on Thursday by the CBI after conducting simultaneous raids at 21 places in the city.
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