IL&FS scam: Chennai court rejects Ravi Parthasarthy’s bail plea in ITNL case
CHENNAI: A special court here has rejected the bail plea of jailed former IL&FS chairman Ravi Parthasarthy in the IL&FS Transportation Network Ltd (ITNL) case related to the Rs 1 lakh crore IL&FS scam, which surfaced in 2018 after several group entities defaulted on repayments due to severe liquidity problems.
Justice M Jothiraman of the special court under the Tamil Nadu Protection of Interest of Depositors (TNPID) Act has refused to grant bail to Parthasarathy, who is the chief accused and presently under judicial custody for the Rs 1 lakh crore IL&FS scam.
The court rejected the accused’s varied contentions that included “ill-health”, “non-applicability of TNPID Act in the case” and “lack of Chennai special court’s territorial jurisdiction” to hear the case.
