New Delhi, Aug 2 (IANS): The Delhi High Court Tuesday dismissed the anticipatory bail plea of three promoters of private companies who are accused of being involved in financial irregularities ahead of the Commonwealth Games and are on the run.

The three are Anil Kumar Madan and Purushottam Dev Arya of Faridabad-based Gem International and Hyderabad-based entrepreneur A. Krishna Reddy linked to A.K.R. Constructions.

"All the three applications are dismissed," said Justice Mukta Gupta, adding that at this stage it was not fit to give them relief.

Madan approached the court for anticipatory bail on the ground that he was old, infirm and a handicapped person suffering from life-threatening ailments.

"In January, he lost vision in his left eye because of retinal detachment and retinal detachment in the other eye is in progress," said his application, adding that he also suffered from severe heart ailments.

In its first charge sheet, the CBI said Madan and Arya, the authorised Indian representatives of Swiss Timing, which was fraudulently awarded the contract for the timing, scoring and result (TSR) equipment, were personally known to former CWG Organising Committee (OC) chairman Suresh Kalmadi long before the sporting event.

The charge sheet had named Kalmadi, who is now in jail, and 10 others.

The charge against Reddy's firm was that it raised fictitious bills amounting to Rs.13 crore for works worth Rs.3 crore.

The CBI said Gem International even obliged Kalmadi as early as Oct 16, 2008, by going out of the way to make a significant payment on his asking.

"Call records show that there were telephonic contacts between them as early as February 2009," the CBI said.

Swiss Timing had been engaged for providing some components of TSR services during the 2008 Commonwealth Youth Games held in Pune, when Kalmadi came in contact with Arya and Madan and other representatives of the Swiss firm.