The Bombay High Court has granted bail to alleged conman Sukesh Chandrasekhar in a 2015 cheating case lodged by the city police’s Economic Offences Wing.
Sukesh Chandrasekhar, however, will not walk out of Delhi’s Tihar Jail, where he is currently lodged, since he is an accused in several cases.
A single bench of Justice Manish Pitale, in its order of Thursday, details of which were made available during the day, noted that the accused has been incarcerated in the present offence for more than seven years and the trial is yet to commence.
Sukesh Chandrasekhar was arrested in the case in May 2015 under Indian Penal Code and Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act for allegedly floating a bogus firm called ‘Lion Oak Indian’ and launching various investment schemes that promised 20 per cent monthly returns apart from rewards like Tata Nano car, gold coins etc.
Sukesh Chandrasekhar, who is accused of amassing Rs 19 crore through this ponzi scheme, in his plea said the maximum sentence in case of conviction was seven years, time that he had already spent in jail awaiting trial.
He moved the Bombay HC after his bail plea was rejected by the special MPID court.
Prime Minister Narendra Modi today arrived in Philadelphia for his three-day US Visit. The Prime…
Chief justices were appointed on Saturday in seven high courts, including in Delhi.The appointments came…
A man has been booked for allegedly sending obscene pictures of a woman to her…
The body of a 26-year-old woman was found chopped into some 30 pieces and kept…
Prime Minister Narendra Modi has arrived in the United States for his three-day official visit…
One person died after ammonia gas leaked from an ice factory near Domoria bridge in…