Coimbatore: A CBI court has reserved its order for Friday on the bail petition filed by senior Police officer Pramod Kumar, arrested in connection with the Rs 824-crore Paazee Forex Trading scam case.
After hearing the arguments from the prosecution, defence counsel and directors of Pazee firm, Judge Ramasamy said that the judgement would be pronounced on Friday.
Meanwhile, Mr Kumar, lodged in the Central Jail, was taken to Puzhal Jail in Chennai for 'security reasons,' jail sources said.
Mr Kumar, was the Inspector General of Police (West Zone) when the case was registered. He was arrested in New Delhi on May 2 on the charge of entering into a conspiracy to get a bribe of Rs 10 crore from Paazee Forex Trading company for protecting its directors facing charges of duping depositors to the tune of Rs 826 crore in 2009.
The CBI has charged Mr Kumar with abusing his official position and making his subordinates and accomplices extort money from Paazee Group of companies to safeguard its directors. He was on the run for a long time and the Madras High Court had turned down his anticipatory bail plea last month.
Story first published:
May 10, 2012 20:27 IST