A city court on Tuesday rejected the bail petition of Rose Valley Group of Companies chairman Gautam Kundu for the second time and remanded him in judicial custody till April 9. Earlier this week, the Enforcement Directorate (ED) arrested Kundu and had him in its custody for five days.
“We opposed Mr. Kundu’s bail petition on the grounds of a larger conspiracy and the way he had illegally raised money, an offence under the Prevention of Money Laundering Act,” ED lawyer Bhaskar Banerjee told The Hindu .
The ED did not ask for Mr. Kundu’s custody since there was no need for his immediate interrogation.
