In the bail petition, he submitted he was a chronic diabetic patient and also suffered from arthritis and low vision
File photo of Madras High Court. (Photo: DC)
Chennai: The Madras high court has dismissed the second bail petition of D.D. Naidu of D.D.Medical College,Tiruvallur, arrested on charges of cheating college students to the tune of Rs 150 crore.
Justice S. Vaidyanathan, before whom the bail petition came up for hearing, said the court felt that if the petitioner was enlarged on bail "the entire investigation proceedings will be frustrated".
According to prosecution, without obtaining permission from MCI for running the college, Naidu collected nearly Rs. 45 lakh from students and subsequently cheated them. Nearly 70 cases were registered against him.
He was remanded to judicial custody on July 7 this year. He was booked under sections 420 (Cheating and dishonestly inducing delivery of property), 471 (Using as genuine a forged document or electronic record) IPC read with sections 3 (offence of money-laundering) and section 4 (Punishment for Money Laundering) of Prevention of Money Laundering Act, 2002.
In the bail petition, he submitted he was a chronic diabetic patient and also suffered from arthritis and low vision. He has to undergo eye surgery. He has been languishing in jail for the last 97 days.
Opposing bail, the prosecution said investigation was still on. The petitioner had not co-operated with the investigation officer and not revealed any factual information about the proceeds of crime.
Justice S. Vaidyanathan said the court could not ignore the seriousness of the charges about the involvement of the petitioner in money laundering of several crores of rupees, against whom, prima facie material was available.
( Source : deccan chronicle )
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