Ahmedabad: The CBI (Central Bureau of Investigation) special court today (Dec 3, 2004) cancelled the bail granted to Ketan Parekh, prime accused in the multi crore Madhavpura Mercantile Co-op Bank (MMCB) scam.

The CBI special court Judge J H Vahiya cancelled Parekh's bail and ordered him to be sent to judicial custody.

The court also issued non-bailable warrants against Parekh.

However, the court granted 15-day stay on the order on defence counsel's plea.

The CBI had said that Parekh's bail should be cancelled, as he was yet to deposit Rs 380 crore which he had agreed to do during his bail period.