Mumbai, April 10 -- A sessions court on Friday rejected the bail application of Hitesh Mehta, former general manager and head of accounts of New India Cooperative Bank, in the Rs 122 crore fraud case.
Mehta was arrested in February last year by the Economic Offences Wing (EOW) of Mumbai Police after the bank's chief executive officer, Devarshi Shishir Kumar Ghosh, filed a complaint against him.
In his bail plea, Mehta denied the charges levelled against him, saying he was in prolonged custody and deserved bail.
While rejecting the plea, judge Vikram R. Jagdale said in his order that ''incarceration for long duration cannot be the ground to grant bail because one cannot lose sight of the fact that in cases of economic offences, it takes t...