Mumbai

The court observed that custody cannot be invoked at the trial stage as none of them had been arrested during the investigation

The prosecution case centres on allegations that Vipul’s brother, former Axis Mutual Fund dealer Viresh Joshi, carried out systematic front-running (an illegal market manipulation based on advance non-public knowledge of a large pending client order)

The investigating agency claims that the scheme was projected as being linked to supply of dry ration kits under a government initiative, including representations tied to the Mid-Day Meal framework, to gain investor confidence

The court held that the scale and structure of the alleged siphoning operation outweigh bail considerations, rejecting his plea for parity with co-accused