2 hrs ago
Court Grants Bail to Ex-RCom Executive on Medical Grounds
A court in Mumbai gave Amitabh Jhunjhunwala bail while his case continues.
Jhunjhunwala is a former senior executive at Reliance Communications.
His lawyers said he has several serious health problems.
They argued that he needs long-term medical care and rehabilitation.
The court noted that another court had recently granted him bail for similar medical reasons.
The Central Bureau of Investigation says a State Bank of India loan was involved in alleged fraud.
The agency alleges that money was diverted and moved through related transactions.
Bail means Jhunjhunwala can remain outside custody while the legal case proceeds, subject to the court’s conditions.
A special CBI court granted former Reliance Communications executive Amitabh Jhunjhunwala bail in a State Bank of India loan-fraud case.
The court cited his unresolved spinal fractures, peripheral osteoporosis, sarcopenia, and coronary artery disease.
The decision relied partly on a September 22 Delhi High Court order granting him bail in a linked money-laundering case.
Jhunjhunwala must execute a Rs 1 lakh personal recognisance bond with one or two local sureties for the same amount.
The CBI alleges that loans linked to Reliance Communications caused State Bank of India wrongful losses of hundreds of crores.
- Who
- Amitabh Jhunjhunwala, former Group Managing Director of Reliance Communications; the Central Bureau of Investigation and State Bank of India are involved in the case.
- What
- A special court granted Jhunjhunwala bail on medical grounds in a multi-crore loan-fraud case.
- Where
- The case was heard by a special CBI court in Mumbai, with a linked proceeding before the Delhi High Court.
- When
- The bail was granted on September 29; the Delhi High Court order cited by the court was issued on September 22.
- Why
- The court found that his reported medical condition required specialised, sustained rehabilitation and supervision that could not be effectively provided in judicial custody.
Defense and Medical Grounds
CBI’s Loan-Fraud Allegations
Reason for bail
Defense and Medical Grounds
Jhunjhunwala’s lawyers argued that unresolved spinal fractures and other serious conditions required sustained medical rehabilitation that could not be effectively administered in judicial custody.
CBI’s Loan-Fraud Allegations
The CBI case alleges that Jhunjhunwala exercised substantial control over corporate finance and banking operations and participated in the alleged diversion and round-tripping of borrowed funds.
Legal basis
Defense and Medical Grounds
The defense relied on the Delhi High Court’s September 22 finding that Jhunjhunwala was sick or infirm and required specialised treatment beyond medicines or pain relief.
CBI’s Loan-Fraud Allegations
The CBI alleges criminal conspiracy, cheating, and criminal breach of trust in connection with State Bank of India loans to Reliance Communications and others.
Key facts
- Accused
- Amitabh Jhunjhunwala, former Group Managing Director of Reliance Communications
- Court decision
- Bail granted on medical grounds
- Bond condition
- Rs 1 lakh personal recognisance bond plus one or two local sureties of the same amount
- Health grounds cited
- Spinal fractures, peripheral osteoporosis, sarcopenia, and coronary artery disease
- Bank involved
- State Bank of India
- Alleged initial wrongful loss
- Rs 2,929.05 crore, according to the CBI case
- Loan cited by investigators
- Rs 1,200 crore disbursed by State Bank of India in August 2016
- Alleged loss on that loan
- Rs 970.25 crore after the loan became non-performing
Quotes
Delhi High Court
The court whose order was cited in support of Jhunjhunwala’s medical bail
“requires specialised treatment which is not confined to administration of medicines or symptomatic pain relief, but involves sustained rehabilitation and supervision over a period of time”
theprint.in
Sources
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