Wheat Scam: Bail plea of former SPC MD dismissed

New Delhi, Jul 23 (UNI) CBI Judge Vinod Goyal today rejected the bail application of former Managing Director of State Trading (SPC) corporation S M Dewan and sent two other accused HR Sardana and US citizen of Indian origin Niranjan Shah in 14-day judicial custody.

Dewan is already in judicial custody.

CBI Judge V K Maheshwari, on Monday, had extended CBI remand of Sardana, an alleged middleman in the 10-year-old 'Wheat Scam', till today, while Dewan was sent in judicial custody.

Both were arrested by the CBI on July 8 after the agency got permission to re-open an investigation into the case relating to irregularities in the import of wheat from Australia by the STC in 1998.

The raid conducted at Dewan's residence had revealed the details of 14 immovable properties running into crores of rupees located in Delhi and the NCR and also evidence of huge investments in shares and bonds.

Other costly household items, including three cars, value of which has been estimated over Rs 1.5 crore, were also unearthed.

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