Mumbai stock broker Ketan Parekh, in custody for about four weeks now, is planning to move the Supreme Court next week for bail after his prayer was rejected by the Calcutta high court.

"The Kolkata police is only interested in keeping my client in custody and he has hardly been interrogated. Under the circumstances, we have no alternative but to move the Supreme Court for bail," Parekh's lawyer C K Jain said.

Parekh, an accused in the Rs 120 crore (Rs 1.20 billion) payment crisis at Calcutta Stock Exchange in March, 2001, was arrested on January 20 after he surrendered before the Chief Metropolitan Magistrate.

After being in police custody till January 31, Parekh was remanded to judicial remand till on Saturday by the court.

In the meantime, he moved the Calcutta high court on February 13 for bail which rejected his prayer.

Following the HC order, the CMM also rejected his bail prayer today and extended his custody till February 28.