Munmun Kaur
Published On: December 22, 2021 at 15:10 IST
A Court in Delhi, on December 21, granted Bail to Rajiv Aggarwal, a Chartered Accountant who worked for Ratul Puri, in connection with the Rs 350 Crore bank fraud case. Ratul Puri is the nephew of former Madhya Pradesh CM Kamal Nath.
The Delhi Court while granting Bail stated that the accused was in jail for 95 days now and that he cannot be left to languish in custody for an indefinite time.
“The offence alleged against him is punishable with imprisonment up to seven years. Since further investigation in the case is underway, there is no likelihood of commencement of trial in near future. The applicant can not be left to languish in custody for an indefinite period,” the Court said.
Further, the Court also observed that even though the money laundered by the accused was of huge amount but still the case of the prosecution against the appellant can only be treated during the trial.
The Enforcement Directorate (ED) has alleged that the directors and the promoters of M/s. Moser Baer India Limited misused and misappropriated the funds released by the Central Bank of India for business purposes. Also, further investigation revealed that not only M/s Moser Baer but also its subsidiaries took loans and defaulted on the repayments.
