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Cyberspace Infosys promoter remanded to CBI custody

Our Bureau

MUMBAI, July 25

A CBI Special court today remanded the Cyberspace Infosys Ltd promoter, Mr Arvind Johari, to CBI custody till August 2. Mr Johari has been arrested in the ``UTI case'' involving the former Chairman, Mr P.S. Subramanyam, and Executive Directors, Mr M.M. K apur and Mr S.K. Basu.

He allegedly conspired with the UTI officials and stockbroker, Mr Rakesh Mehta, and caused wrongful loss to UTI.

Mr Johari was arrested by the Economic Offences Wing of the Central Bureau of Investigation (CBI), Mumbai, after he was transferred to it by the Lucknow wing of the investigating agency.

The anti-corruption bureau of CBI, Lucknow, had taken Mr Johari into custody last week.

The CBI told the court that he was needed in custody for interrogation to ``unearth the entire criminal conspiracy'' which caused a loss of Rs 32.08 crore to UTI and to ascertain the ``role of other accused persons who might have played an active role wh ich has not yet surfaced and which is likely to surface on sustained examination''.

Related links:
Tracking a short-lived joyride
What UTI research cell recommended
Former UTI chief, 2 EDs remanded
Subramanyam, 2 EDs raided by CBI -- Investigation into UTI investment decisions ordered

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