Arguing over the bail applications of alleged accused R K Verma and Baldev Verma, counsel for the accused said that the FIR lodged against the accused was ``vague''. He said that the complainants had failed to produce particulars of amounts deposited by them, as also of the dates of maturity. The counsel further stated that the Economic Offences Wing had not given them an opportunity to explain their position.

In a complaint lodged against the alleged accused, it had been stated that they had collected huge amounts of money from the people and that their maturity dates had lapsed several months ago. The company had closed its branches and Rs 3.60 lakh was at stake, it was alleged. The judge, after hearing the arguments, dismissed the anticipatory bail applications of the accused.

A copy of the complaint had also been forwarded to the Home Secretary, who had recommended registration of a case against the accused.