Ahmedabad: The bail pleas of bank-fraud accused Amit Bhatnagar, his father Suresh Bhatnagar and his brother Sumit Bhatnagar were rejected today by an Ahmedabad CBI court. The trio had applied for an advance bail after law enforcement agencies began conducting raids at their properties since the last month.

Amit Bhatnagar, the proprietor of Diamond Power Infrastructure limited has been accused of cheating a consortium of 11 banks of Rs2654 crores. He, along with his brother and father has gone into hiding, evading arrests by the police. So far, the CBI (Central Bureau of Investigation), ED (Enforcement Directorate) and the Income Tax department have conducted back to back raids at the Bhatnagars' properties in Vadodara in the span of one week.

Amit Bhatnagar, a businessman having close links with senior BJP leader and minister Saurabh Shukla, landed on the wrong side of the law after the enforcement agencies woke up to a jolt with several affluent businessmen escaping country after fleecing public banks of thousands of crores of rupees. It is being said that Bhatnagar too had plans to make good his escape and thus applied for an advance bail after he got to know of CBI's plans to raid his businesses and residences in the coming days, but Judge NG Dave of the CBI court rejected the bail applications on Tuesday.