SIS scam: Court rejects Sameer Kakkad's bail plea

Anticipatory bail plea of Sameer Kakkad, director of scam ridden Sai Info systems (SIS), was rejected by a court in Ahmedabad on Tuesday. Sameer Kakkad is the elder brother of chairman, Sunil Kakkad, who is on the run since July 26. The company’s assets have been seized by its lending bankers while the employees are demanding a ‘wind up’ of the company to recover their outstanding dues.

Further, the Vastrapur police registered an FIR against Sameer Kakkad under section 409 and 418 of the Indian Penal Code (IPC). Sameer had filed an application before the district court to get an anticipatory bail, which was challenged by government pleader, JR Dave, and counsel for employees, Visha Dave.

With this, it now looks certain that Sameer would be arrested by the police and will be taken into custody for interrogation in the multi-crore scam, which involves siphoning away of funds and other allegations. It should be noted that for 10 consecutive months, the absconding chairman and managing director of the SIS, Sunil Kakkad, has not paid the salaries, a total of around Rs21 crore, to his employees. 

This excludes the Rs64 lakh Provident Fund dues that have not been deposited; Rs26 lakh that has not been paid to the Employees State Insurance, Rs17.60 lakh not yet deposited as professional tax and tax deduction at source (TDS) dues of Rs1.22 crore till June 2013, the SIS employees alleged.