Delhi court grants bail to businessman Ratul Puri, nephew of Madhya Pradesh Chief Minister Kamal Nath, in Moser Baer bank loan fraud case.
Special Judge Sanjay Garg allowed Puri's bail plea and, directed him to give Rs 5 lakh bail bond and two sureties worth the same amount to avail the bail.
He was recently granted bail concerning the AgustaWestland VVIP chopper money laundering case.
The ED, on Thursday, moved the Delhi High Court seeking cancellation of bail granted by a trial court to Ratul Puri in the AgustaWestland money laundering case.
The ED had arrested Puri, the former executive director of Moser Baer India Limited (MBIL) on August 19 based on a case filed against him by the Central Bureau of Investigation (CBI) had his father Deepak Puri and mother Nita Puri on a complaint filed by the Central Bank of India (CBI) The bank had accused Moser Baer and its director of defrauding the bank of Rs 354 crores.
Others who have been booked on charges of criminal conspiracy, cheating, forgery, and corruption besides the Puri family are Sanjay Jain and Vineet Sharma.
Moser Baer, the company involved in the manufacture of optical storage media like compact discs, DVDs, solid-state storage devices had been taking loans from various banks since 2009 and went for debt restructuring several times, the Central Bank of India claimed in the complaint.
"MBIL and its directors and promoters have also committed fraud in respect of reporting book debts, which were also one of the primary securities of the bank," the complaint read.
