HC stays bail for DSQ chief Dinesh Dalmiya

Chennai, Oct 9 (UNI) Madras High Court today stayed an order of a Sessions Court granting bail to DSQ Software Director Dinesh Dalmiya in the Rs 594 crore stock scam of 2000-2001, involving DSQ Software.

Mr Justice R Raghupathy stayed operation of the order of the Fifth Additional Sessions Judge dated August 25, granting bail to Dalmiya, on a revision petition filed by CBI Bank, Security and Fraud Cell.

In its petition, the CBI said the gravity of the crime was Rs 594 crore and before Mr Dalmiya's arrest, he was absconding for two years, having fled to the US. If released on bail, he may again abscond. White collar crime was more dangerous and it would affect the whole society. Dalmiya did not deserve leniency, the CBI added.

According to the CBI, Mr Dalmiya cheated the shareholders to the tune of Rs 594 crore by adopting fradulent means in 2000-2001.

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