BENGALURU: The High Court on Thursday refused to grant bail to suspended chief project officer S C Jayachandra, Karnataka State Highways Development Project, in two different cases. He applied for bail in a money laundering case registered by the Enforcement Directorate and a disproportionate assets case registered by the Anti Corruption Bureau.
Justice P S Dinesh Kumar dismissed both the bail applications of Jayachandra, who is in judicial custody after he was arrested after the CBI registered an FIR on December 3, 2016, against him, along with others, for their fraudulent conversion of currency.
The judge said Jayachandra was found possessing 102.6 per cent disproportionate assets during the investigation done by the Lokayukta police in relation to a case registered in 2008. In spite of it, Jayachandra indulged in amassing wealth illegally. Hence it is not a fit case to grant him bail, the judge said.