New Delhi, Feb. 21 -- The Saket District Court on Saturday rejected the bail plea of businessman Satya Prakash Bagla who was arrested in an alleged case of cheating a Kolkata-based investor. He was arrested by the Economic Offence Wing (EOW) of Delhi Police on January 9.

This case pertains to the alleged siphoning and diversion of funds of Exclusive Capital Ltd (ECL), of which Bagla is the Managing Director.

Additional Sessions Judge (ASJ) Shunali Gupta rejected the bail plea of Satya Prakash Bagla after considering the submissions and facts of the case.

"I am of the firm opinion that, considering the serious nature of the offence, investigation being at the nascent stage, concealment of past criminal antecedents by the applicant and t...