Business Tycoon Denied Bail in High-Profile Fraud Case

A Delhi court rejected the bail plea of Satya Prakash Bagla, owner of Exclusive Capital Limited, in a case involving alleged cheating of Kolkata investors. Despite health concerns raised by the defense, the prosecution cited flight risk and evidence tampering, as co-accused delayed joining investigations.

In a significant development, a Delhi court on Saturday denied bail to businessman Satya Prakash Bagla in a high-profile fraud case involving alleged cheating of investors from Kolkata.

Additional Sessions Judge Shunali Gupta rejected Bagla's plea, with a detailed order still pending. Bagla, associated with Exclusive Capital Limited, was apprehended by Delhi Police's Economic Offences Wing on January 9. The prosecution opposed the bail, insisting on the need for custodial interrogation due to absent co-accused party and potential evidence tampering.

Despite defense claims of Bagla's deteriorating health condition, the court prioritized the risk of flight and evidence tampering over his medical needs. This case originates from a complaint by a Kolkata-based couple, highlighting financial misconduct at the helm of Exclusive Capital Limited.

(With inputs from agencies.)