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The SC rejected to grant bail to former union minister Mr.Matang Sinh who was accused by CBI in a multi crore Sharada chit fund scam,saying he cannot be given bail at this stage.
A vacation bench consisting of Justice P.G. Ghose and Amitav Roy dismissed the bail application. The petetioner contended that he was in jail for last seven months, hence bail may be granted. The allegation against Sinh is that he sold some of his shares from one of his own companies to Sharada group of companies for which he was arrested by the CBI.