Chartered Accountant Gets Bail in Rs. 318 Crore GDR Fraud, SC
Supreme Court grants bail to Chartered Accountant in 318 Cr GDR Fraud against ED’s Arrest
The Supreme Court granted bail to a chartered accountant arrested by the Enforcement Directorate in connection with a probe into a Rs 318 crore global depository receipts (GDRs) fraud.
No final report has been submitted in the FIR, and the appellant’s continuing detention might not be necessary, said a bench of Justices V Ramasubramanian and Pankaj Mithal.
A chartered accountant who was detained by the Enforcement Directorate in connection with an investigation into a Rs 318 crore global depository receipts (GDRs) fraud was granted bail by the Supreme Court on Thursday.
A panel of Justices V Ramasubramanian and Pankaj Mithal noted that no final report had been submitted with the FIR and that the appellant’s extended detention might not be necessary.
The court stated, “Adequate restrictions (for bail) must be imposed in order to address the Enforcement Directorate’s concern that the appellant is a flight risk and may leave the country if released on bail.
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