Justice Vibhu Bakhru granted bail to Saxena, who was a former director in RFL, on furnishing of a personal bond of Rs 25,000 and a surety of the like amount and directed him not to leave the national capital without prior permission of the trial court.
The high court also asked Saxena, who was represented through advocate Abhimanyu Bhandari, not to contact any of the employees of REL, Religare Finvest Ltd (RFL) or any of the Religare group of companies and he shall be present in all the hearings or proceedings.
“This court is also of the view that the petitioner (Saxena) does not present any flight risk. The petitioner is a professional accountant. His qualifications are recognised in India but not in most other countries. He has been stationed in India and there is no material to indicate that he would present any flight risk,” the judge said.
The high court said though it has been contended by the complainant firm RFL that Saxena has the means to flee the country, there does not appear to be any cogent material to entertain any such apprehension.
“This court is also of the view that the alleged role of the petitioner in the alleged offence cannot be equated to that of the promoters who are also alleged to be the beneficiaries of the funds allegedly siphoned from RFL,” it said.
The Economic Offences Wing (EOW) of Delhi Police had arrested REL promoters Malvinder Mohan Singh and Shivinder Mohan Singh, Kavi Arora and Anil Saxena last year in connection with a case related to alleged siphoning of money from Religare Finvest Limited, which is a subsidiary of REL.
While Saxena has been granted bail by the high court, Malvinder Mohan Singh, Shivinder Mohan Singh and Kavi Arora are still under judicial custody in Tihar Jail.
The trial court had earlier rejected the bail to all accused persons on grounds of gravity of offences amongst others. PTI SKV HMP SKV RKS RKS
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI