IDBI Bank-KFA loan default case: CBI failed to substantiate case for more jail term, says Bombay HC

" It is in these circumstances that this court is of the opinion that applicants deserve to be enlarged on bail."

By: Express News Service | Mumbai | Published:March 21, 2017 2:11 am

The Bombay High Court, which recently granted bail to the former CMD of IDBI Bank Yogesh Agarwal, and its deputy managing director B K Batra after they were arrested by the CBI in a case related to the default of a loan to Kingfisher Airlines, has said that the agency had failed to substantiate its contention for requiring further “incarceration” of the former senior bank officials.

“The CBI is unable to substantiate the contention as to why further incarceration of the applicants is imperative after filing of the chargesheet. The case rests upon documentary evidence and there would be no question of tampering of evidence especially since both applicants have retired on superannuation. It is in these circumstances that this court is of the opinion that applicants deserve to be enlarged on bail,” said Justice, S S Jadhav.

Video of the day

For all the latest Business News, download Indian Express App

    Live Cricket Scores & Results