SC grants interim bail to company chief accused in Ponzi scheme

India

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New
Delhi,
Aug
24:

The
Supreme
Court
on
Wednesday
granted
interim
bail
for
four
weeks
to
a
director
of
Haryana-based
company
accused
of
cheating
about
31
lakh
investors
by
way
of
a
Ponzi
or
fraud
multi-level
marketing
scheme
to
take
part
in
rituals
following
the
death
of
his
parents.

A
bench
headed
by
Justice
D
Y
Chandrachud
noted
that
the
mother
of
the
petitioner
passed
away
on
August
11,
while
his
father
passed
away
on
August
18.
The
petitioner
had
sought
release
for
a
period
of
four
weeks
so
as
to
complete
the
religious
observances
occasioned
by
the
death
of
his
parents.

SC grants interim bail to company chief accused in Ponzi scheme

“Having
regard
to
the
reason
set
out
for
short
term
release
on
bail,
we
are
of
the
opinion
that
the
petitioner
should
be
granted
bail
for
a
period
of
four
weeks
from
today.
The
petitioner
shall
accordingly
be
released
on
bail
for
a
period
of
four
weeks,
subject
to
certain
conditions.

“The
petitioner
shall
remain
confined
to
the
District
of
Hisar,
Haryana
during
the
period
of
interim
bail,
save
and
except
on
those
days
where
he
may
have
to
leave
the
District
for
the
purpose
of
religious
observance
in
which
event
prior
notice
shall
be
given
to
the
SHO
of
the
police
station
concerned,”
the
bench,
also
comprising
Justices
A
S
Bopanna
and
J
B
Pardiwala,
said.

SC refers matter relating to Shiv Sena rebellion to Constitution BenchSC
refers
matter
relating
to
Shiv
Sena
rebellion
to
Constitution
Bench

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