Delhi High Court Grants Bail In ₹22.30 Crore Investment Fraud Case

In a significant ruling on the principles governing bail jurisprudence, the Delhi High Court granted regular bail to an accused in an alleged ₹22.30 crore investment fraud case, observing that criminal bail proceedings cannot be transformed into recovery proceedings for monetary disputes. Justice Dr. Swarana Kanta Sharma noted that the applicant, Amit Arora, had remained in judicial custody for nearly two and a half years while charges were yet to be framed and the trial involving 51 witnesses was likely to take substantial time to conclude.

The prosecution alleged that the accused persons, operating through M/s Caprise Financial Services, induced investors to deposit large sums on assurances of high returns from share trading and later failed to return the invested money and share portfolios. While acknowledging the seriousness of the allegations and the large number of affected investors, the Court emphasised that prolonged incarceration without commencement of trial cannot be justified solely on the basis of financial allegations.

The Court also considered that similarly placed co-accused had already been granted bail. Reiterating settled Supreme Court principles, the High Court observed that grant of bail cannot depend entirely on settlement of monetary claims with complainants. Accordingly, the Court granted bail subject to conditions including surrender of passport, regular appearance before the trial court and non-interference with witnesses or evidence.