Supreme Court has granted bail to Bharat Bomb, prime accused in the Rs 1000 Cr Syndicate Bank Fraud. Bail was granted by the bench of Justice RF Nariman and Justice Indu Malhotra.
Bomb has been ordered to submit his passport to the trial court. He has also been ordered to continue his support to the investigation agencies and follow the conditions laid down by the trial court.
During the hearing, lawyers defending Bomb said that it has been two and a half years since the charge sheet had been submitted against Bomb and he has been in jail throughout this period. Investigations have also progressed significantly during this period. The lawyers also cited deteriorating health condition of his father and requested for bail.
Readers may remember that Udaipur based CA, Bharat Bomb has been accused of causing fraud worth Rs 1000 Cr+ in three branches of Syndicate Bank in Udaipur and Jaipur. He had carried out this fraud with support from Bank Manager, Santosh Kumar Gupta and others. In this case, besides Bharat Bomb and Santosh Gupta, the others arrested include: Shankarlal Khandelwal, Deshraj Meena and their relatives.