Court Grants Extended Custody for Businessman in Multi-Crore Cheating Case

Saket District Court extends custody of businessman Satya Prakash Bagla for four days to facilitate an ongoing investigation into a multi-crore cheating case involving Kolkata investors. The case involves alleged siphoning of funds and financial misconduct linked to Exclusive Capital Ltd.

Saket District Court, on Thursday, granted the Delhi Police an additional four days' custody of businessman Satya Prakash Bagla, who is implicated in a high-profile cheating case involving a Kolkata-based investor. Arrested by the Economic Offence Wing, Bagla is accused of illegal fund diversion associated with Exclusive Capital Ltd (ECL).

The decision to extend Bagla's custody was made by Duty Judicial Magistrate First Class Siddhant Krishan Singh, following a request from the investigative officer. The police sought seven more days, citing Bagla's lack of cooperation and the necessity of his presence in Lucknow and Mumbai for further inquiries, particularly regarding a Bentley car's ownership.

Satya Prakash Bagla, under interrogation for alleged cheating amounting to crores, will remain in custody until at least January 17. The investigation continues to explore illicit financial transactions, concealment of critical information, and identification of financial beneficiaries linked to ECL. Meanwhile, both legal teams prepare for ensuing court proceedings.

(With inputs from agencies.)