In a major development in the Rs 137 crore pay order scam, chairman of Madhavpura Mercantile Co-Operative Bank Ramesh L Parekh today surrendered here before the CBI which questioned him for his role and continuous issuance of pay orders to big bull Ketan Parekh. Ramesh Parekh, who was absconding immediately after the scam was unearthed on Friday last with the arrest of Ketan, walked into the local CBI headquarters here this morning and surrendered.
Highly-placed CBI sources said the CBI had maintained extreme pressure and had raided some places in Mumbai and Ahmedabad to nab Ramesh.
The sources said that he was being questioned and had not been arrested so far. A decision to arrest him was likely to be taken only after his examination was over.
The chances of his arrest were high keeping in view his role, the sources said. After the surrender of Ramesh, the CBI was now looking for the managing director of the co-operative bank Dinesh Pandya.
Ramesh Parekh has claimed he had all along been in Bhavnagar visiting a relative. Meanwhile, Kirit Parekh, the ailing associate of Ketan, who was questioned by the agency yesterday, was not called today for further examination, the sources said.
Bureau Report