With frantic lobbying to acquire bail, the executives are clamouring after their first bail application was rejected. The investigative agencies have finally managed to lay their hands and book them. Those arrested include three Reliance Executives from ADAG, Vinod Goenka of DB Realty and Sanjay Chandra, Unitech Chief.
The five executives were earlier sent to a 14-day judicial custody after their initial bail application was rejected at the Delhi High Court. The application was rejected in lieu of the serious allegations and the crucial evidence lined up against them by the CBI. There were also concerns of evidence tampering and possibility of intimidating witnesses.
The five accused sought an interim bail for a week so as to move the High Court ahead of Wednesday's order. The court however rejected the plea. (Read: Reunion time for 2G fraudsters in Tihar Jail!)
Among the various charges against them, the primary allegation remains that both Sanjay Chandra and Vinod Goenka conspired with A Raja, the then Telecom Minister for attaining 2G licenses at undervalued rates and unfairly benefitted with the liason. Chandra has also charges of cheating and conspiracy levelled against him.
The CBI considers that Chandra was instrumental in attaining license within a week that led to Unitech benefiting out-of-turn and gaining an upper hand in allocations.
The second bail application will be heard on Tuesday.