New Delhi, Feb 21 A Delhi court on Saturday dismissed the bail plea of businessman Satya Prakash Bagla in a case related to alleged cheating of Kolkata-based investors.
Additional Sessions Judge Shunali Gupta rejected the plea. A detailed order is awaited.
Bagla, owner of non-banking financial company Exclusive Capital Limited, was arrested by the Economic Offences Wing of Delhi Police on January 9.
The State had opposed the plea, arguing that custodial interrogation remained crucial as the co-accused had not joined the investigation and were pursuing proceedings before the Delhi High Court.
The prosecution also raised apprehensions of evidence tampering and flight risk, and contended that Bagla's medical condition was not severe enough to warrant release.
The defence had argued that there was no further need for custodial interrogation, denied allegations of tampering with evidence, and claimed that Bagla was suffering from serious ailments, including high blood pressure and having only one functioning kidney.
The case stems from a complaint filed in October 2025 by a Kolkata-based senior citizen couple, Suresh Kumar Agarwala and Kanta Agarwala, against the directors of Exclusive Capital Limited, including Bagla, Achal Kumar Jindal and Johnson Kallarachal Abraham.
An FIR was registered under Sections 318 (cheating), 316 (criminal breach of trust) and 61 (criminal conspiracy) of the Bharatiya Nyaya Sanhita.
The complainants have alleged that they were induced to invest in the company and later discovered that investor funds were siphoned off to purchase luxury cars, electronic goods and extend sham loans to connected entities.
