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Stockbroker Hiten Dalal, Canfina dealer Ashok Kumar convicted

A special court today convicted Hiten Dalal, stockbroker, Ashok Kumar chief dealer of Canara Bank Services Ltd (Canfina) and seven others on the charge of causing loss amounting to the tune of Rs 3.74 billion to Canfina.

However, Justice M S Rane acquitted stockbroker Bhupen Dalal and two other accused on the ground that there was no evidence against them.

After delivering the oral judgement the special court adjourned the matter till March 16 to enable the defence to file their say on the quantum of sentence.

Besides Hiten Dalal and Ashok Kumar, others convicted were Canfina dealer S Mohan, stock brokers A D Narottam and S Ramaswamy, Bank of Karad employees C S Raje and Sudhakar.

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