Mohali, Dec. 2 -- A Mohali court has dismissed the anticipatory bail applications of Jaswant Singh, director of ATL Biofuels India Private Limited, and Parminder Pal Singh, a chartered accountant associated with the company, in the alleged Rs.3.15-crore investment fraud involving a proposed biofuel project.

The applications were filed after complainant Paramjit Singh, a retired bank employee from Mohali, alleged that he and Jaspreet Singh were cheated by company directors Avtar Singh, his son Jaswant Singh, and Parminder Pal Singh, along with two others, after being lured to invest in ATL Biofuels India Pvt Ltd on the promise of high returns, share allotment, and substantial profits.

According to the FIR, ATL Biofuels India Pvt Ltd was ...