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The CBI opposed the bail application. Prosecutor Jitendra Kumar Sharma submitted before a Thane court that Mehta is the direct beneficiary of Rs50 crore of the total fraud amount and has been enjoying it since 2012.
Some consolidation is expected in the Nifty at around 17,600-17,700 but rotational buying across index majors will help in maintaining the positive tone, Ajit Mishra of Religare Broking has said
BSE Sensex surged 582.87 points, or 0.99 per cent, to 59,689.31, whereas NSE's Nifty50 rallied 159 points or 0.91 per cent to settle at 17,557.05 for the day.
Grasim Industries, Reliance Industries, Cipla, Sun Pharma and SBI were among the top Nifty gainers, while losers were Adani Ports, Power Grid Corp, SBI Life Insurance, M&M and Tata Motors
'The Ruby' has entered into an Agreement with Hines, the global real estate investment, development, and property manager, for Asset upgradation, Management and Marketing.