The High Court of Delhi has granted regular Bail to Religare Enterprises Limited Chief Financial Officer (CFO) Anil Saxena in connection with a case related to alleged siphoning of funds to the tune of Rs 2,000 crore from the company.
A bench of Justice Vibhu Bakhru granted bail to Anil Saxena on conditions that he shall not leave the national capital territory of Delhi without prior permission of the Court & shall not contact any employees of the Religare group of companies.
Lawyers Abhimanyu Bhandari, Nattasha Garg & Arav Pandit appeared on behalf of Mr Saxena.
On Tuesday, the Bench in its order said that “The petitioner does not present any flight risk. As noticed above, the petitioner is a professional accountant. His qualifications are recognized in India but not in most other countries. He has been stationed in India & there is no material to indicate that he would present any flight risk”.
Noting the contention of Religare Finvest Ltd that the petitioner has the means to flee the country, the Court held that there doesn’t appear to be any cogent material to entertain any such an apprehension.
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The order said 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”.
The Economic Offences Wing (EOW) of Delhi Police had arrested Malvinder Mohan Singh, Shivinder Mohan Singh, Kavi Arora, & Anil Saxena last year in connection with a case related to alleged siphoning of money from Religare Finvest Limited.
While Saxena was granted bail by the HC, Malvinder Mohan Singh, Shivinder Mohan Singh, & Kavi Arora are still under judicial custody in Tihar Jail.
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The Trial Court had earlier rejected the bail to all accused persons on grounds of gravity of offences amongst others.
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