Debangana Ray
Published on July 9, 2022 at 19:35 IST
Vipul Ambani (53), president (finance) of Nirav Modi’s FireStar Diamond on Friday got relief from Bombay High Court, which rejected a Central Bureau of Investigation (CBI) plea for cancellation of his bail, but the HC imposed Rs7.5 lakh as exemplary costs on him for illegally recording court proceedings.
He is an accused in a multi-crore Punjab National Bank fraud case registered by CBI against Nirav and others for allegedly causing wrongful loss of Rs 6,498 crore to the bank.
A single judge bench of Justice Ajay Gadkari, which found him recording the proceeding when he was dictating the order asked him to pay exemplary costs for his wrongdoing.
The CBI sought for cancellation of bail granted in August 2018 citing ongoing probe and claiming that he committed serious economic crime with other co-accused.
Ambani’s counsel Ashok Mundergi and Pranav Badheka had opposed the plea by CBI for cancellation of bail saying, he had not misused his liberty granted four years ago and was entitled to bail.