CUTTACK: The Orissa High Court on Monday rejected the anticipatory bail petition of former additional Government advocate Debasish Panda who is being probed for his links with Artha Tatwa Group in the chit fund scam.
The single judge bench comprising Justice SK Mishra accepted the contentions raised by CBI special public prosecutor from Delhi K Raghav Charulu and advocate V Narsingh and observed that granting anticipatory bail at this stage would derail the investigation.
The bench also observed that CBI has unearthed the connection of the petitioner with the chit fund scam by Artha Tatwa Group and there is prima facie suggesting acceptance of pecuniary benefits by the petitioner.
Referring to a decision of Supreme Court, the counsels for the CBI also argued that for an effective investigation, custodial interrogation would be necessary.