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Dalmiya moves HC

Written by: Staff

Chennai, Nov 22 (UNI) Dinesh Dalmiya of DSQ Software Limited has moved Madras High Court to vacate its stay on the lower court order granting him bail in the Rs 594 crore transfer of shares scam case.

Following completion of arguments from counsel for Dalmiya, Justice R Raghupathy, before whom the petition came up for hearing, adjourned it to December one for reply by the Central Bureau of Investigation (CBI).

The CBI's BSFC, Delhi, registered a case against Dalmiya on a complaint of SEBI and a chargesheet was filed in the Court of Additional Chief Metropolitan Magistrate (ACMM) on October 24, 2005 against Dalmiya and three companies. They were DSQ Holdings Limited, Hulda Properties and Trade Limited and Powerflow Holding and Trading Private Limited for offences under Sections 409, 420, 468 and 471 of IPC, showing him as absconding.

On December 9, 2005, the ACMM issued a Non-bailable Warrant (NBW). Dalmiya was arrested on February 12, 2006 at Delhi and produced before the ACMM on February 14, 2006.

Dalmiya filed a bail application and the ACMM dismissed it. He filed a revision petition and the Fifth Additional Sessions Judge set aside the ACMM's order dated May 30, 2006 and granted him bail.

Aggrieved, the CBI moved the High Court, which on October 9, 2006 stayed the operation of the Sessions Judge order.

Following this, Dalmiya filed this petition to vacate the stay.

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