New Delhi: The Supreme Court on July 14 refused to grant bail to stockbroker Hiten Dalal and other accused in the securities scam case.

Dalal and others were convicted by a Special Court in Mumbai and sentenced to seven years' imprisonment for defrauding institutions and investors to the tune of Rs 105 crore.

The Bench, comprising Justice M B Shah and Justice A R Lakshmanan, said considering the nature of offence and the sentence awarded to them, there is no question of granting bail to them at this stage.

However, the court, which had admitted the statutory appeal filed by Dalal and others, gave them liberty to move a fresh bail application in case their appeal was not heard expeditiously.

PTI