Shastry out on bail

MANGALORE: K N Srinivas Shastry alias ViniVinc Shastry, the prime accused in the Rs 205 crore ViniVinc investment scam surrendered before the second JMFC court here on Thursday in connection with a cheating case registered against him by the Gandhinagar (Barke) police. The court released him on bail asking him to furnish two sureties -- one local and one external.He was also asked to cooperate with the investigating authorities.
S P Chengappa, counsel for the accused, said the police had lodged a suo moto case of cheating against Shastry pertaining to the ViniVinc Marriage Bureau that was operating at Bejai. "My client came here and surrendered before the court," Chengappa said adding that Shastry has promised to cooperate with the authorities in their investigation. Shastry incidentally was released from Parappana Agrahara jail on bail on July 27.
The Supreme Court on July 14 had granted a two-month interim bail to Shastry. But he was forced to spend a few more days in jail, as the bail copy had not reached the jail authorities. Shastry, chairman of ViniVinc, had disappeared in July 2005 after allegedly taking the investors money. Shastry, on his release, through his counsel has promised to return the money and settle their dues legally.