MEGA scam: To get bail, former IAS officer offers property worth Rs 8 cr as surety

The move came even after the court concluded the hearing and had reserved the verdict for pronouncement.

By: Express News Service | Ahmedabad | Published: March 19, 2016 2:10:00 am

Seeking regular bail, ex-IAS officer and former executive chairman of the Metro-Link Express for Gandhinagar and Ahmedabad Company Ltd (MEGA) Sanjay Gupta on Friday offered documents of his property worth about Rs 8 crore as surety in the Gujarat High Court. Gupta has been languishing in Sabarmati Central Jail for the past ten months.

The property, based in Goa, has been listed in the name of Gupta’s private limited company. Besides, Gupta’s advocate also told the High Court that in addition to this asset, Rs 25 lakh in cash would also be deposited as surety for his bail if the court considers.

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The move came even after the court concluded the hearing and had reserved the verdict for pronouncement.

“Considering the magnitude of fraud, what is offered as surety for his bail is too meagre and that too belongs to a private limited company,” public prosecutor told the court while objecting to the submission by Gupta’s lawyer. Following the submission, the court of justice A J Desai adjourned the matter till March 23.
Gupta was arrested by CID (crime) for his alleged involvement in the Rs 113-crore MEGA scam in May, 2015. He has been chargesheeted in a scam worth over Rs 113 crore which was found in the project of filling land at Bhat Koteshwar-Motera for the construction of casting yard and a deport for the Metro rail project.
He was also arrested by Gandhinagar police in another case of alleged fraud to the tune of Rs 2.62 crore which was lodged in December 2014.

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