Bombay HC Grants Bail to Seraj Memon in ₹157-Crore Malegaon Case

The Bombay High Court has granted bail to Seraj Memon, who was arrested in December 2024 for his alleged involvement in a ₹157.78 crore money laundering case.

Memon was accused of opening multiple bank accounts to route large sums of money through paper entities and withdrawing significant amounts in cash.

The defense argued that the trial had not commenced despite his prolonged incarceration, and the court agreed that bail was warranted due to the delay.

The prosecution alleged that Memon managed transactions involving ₹157.78 crore and withdrew ₹14.84 crore in cash, transferring ₹13.25 crore through hawala channels and retaining ₹1.58 crore.

The chargesheet is extensive, running into five volumes and 7,000 pages, with 40 witnesses proposed for examination.