Thane, Dec 26: A court here today remanded Kailas Mahapadi, the editor of Marathi daily 'Janmat', arrested by the police on Monday, to police custody till December 31.
Mahapadi was arrested by the police in connection with an extortion case amounting to Rs 2 crore from the managment of a finance company directors. The directors have already been arrested on charges of fraud and cheating to the tune of Rs 55 crore, involving more than 300 people.
According to a complaint, Mahapadi had demanded and accepted the whooping sum by threatening them not to publish the details of the collection and its investment in his paper.
Police told the court that they had to recover the sum of Rs 2 crore from Mahapadi and get other details from him relating to the case and sought his custody, which was granted by the court.