Rs 318 cr GDR Fraud: Supreme Court grants bail to Chartered Accountant

 

On Thursday, the Apex 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.

A bench of Justices V Ramasubramanian and Pankaj Mithal noted no final report has been filed in the FIR and continued incarceration of the appellant may not be justified.

 

The bench said, "The apprehension of the Enforcement Directorate that the appellant is a flight risk and may go out of the country if released on bail has to be taken care of by imposing appropriate conditions (for bail)".

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