<p>The Supreme Court on Tuesday sought a response from the Union government on a plea for bail made by Rotomac group of companies directors Sujay Desai and Uday J Desai in a case related to Rs 7,500 crore financial fraud with public sector banks and other institutions.</p>.<p>A bench of Justices L Nageswara Rao, S Abdul Nazeer and Sanjiv Khanna issued notice to the Ministry of Corporate Affairs' Serious Fraud Investigation Office on the petition by the Desais. The court put the matter for consideration next week.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-india-live-updates-total-cases-deaths-covid-19-tracker-worldometer-update-lockdown-30-latest-news-835374.html"><strong>For latest updates on coronavirus outbreak, click here</strong></a></p>.<p>The petitioners led by senior advocate Mukul Rohatgi challenged the validity of the Allahabad High Court's order of May 5, rejecting their plea for the interim bail.</p>.<p>Both Sujay and Uday were arrested on March 19, in the case where the investigation was ordered on February 21 into 11 companies of Rotomac group and Frost International Ltd.</p>.<p>They were arrested for the commission of the offence of fraud with Public Sector Banks and Financial Institutions involving a total amount of Rs 4000 crores approximately in RGPL and Rs 3500 crores in FIL.</p>.<p>In their special leave petition, the petitioners contended they were suffering from diabetes and asthma and faced a great risk of contracting COVID-19 as they were confined to district jail Kanpur Nagar, which was already overcrowded.</p>.<p>The High Court has refused them bail, saying in view of "nature and gravity of the offence which shakes the conscience of the society and public at large" and the facts that the investigation was still pending. It has also noted there were strong apprehensions that there would be chances of tampering of evidence by them.</p>
<p>The Supreme Court on Tuesday sought a response from the Union government on a plea for bail made by Rotomac group of companies directors Sujay Desai and Uday J Desai in a case related to Rs 7,500 crore financial fraud with public sector banks and other institutions.</p>.<p>A bench of Justices L Nageswara Rao, S Abdul Nazeer and Sanjiv Khanna issued notice to the Ministry of Corporate Affairs' Serious Fraud Investigation Office on the petition by the Desais. The court put the matter for consideration next week.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-india-live-updates-total-cases-deaths-covid-19-tracker-worldometer-update-lockdown-30-latest-news-835374.html"><strong>For latest updates on coronavirus outbreak, click here</strong></a></p>.<p>The petitioners led by senior advocate Mukul Rohatgi challenged the validity of the Allahabad High Court's order of May 5, rejecting their plea for the interim bail.</p>.<p>Both Sujay and Uday were arrested on March 19, in the case where the investigation was ordered on February 21 into 11 companies of Rotomac group and Frost International Ltd.</p>.<p>They were arrested for the commission of the offence of fraud with Public Sector Banks and Financial Institutions involving a total amount of Rs 4000 crores approximately in RGPL and Rs 3500 crores in FIL.</p>.<p>In their special leave petition, the petitioners contended they were suffering from diabetes and asthma and faced a great risk of contracting COVID-19 as they were confined to district jail Kanpur Nagar, which was already overcrowded.</p>.<p>The High Court has refused them bail, saying in view of "nature and gravity of the offence which shakes the conscience of the society and public at large" and the facts that the investigation was still pending. It has also noted there were strong apprehensions that there would be chances of tampering of evidence by them.</p>
