MUMBAI: The Bombay High Court on Tuesday quashed and set aside a sessions court order granting temporary bail amid the COVID-19 pandemic to Infrastructure Leasing and Financial Services (IL&FS) former vice chairman Hari Sankaran, who was arrested in a fraud case.
Justice C V Bhadang was hearing an application filed by the Serious Fraud Investigation Office (SFIO), challenging a sessions court's order of April 28 granting Sankaran temporary bail for 75 days.
Sankaran was arrested in April last year by SFIO under the Companies Act for allegedly committing fraud. According to SFIO, Sankaran and other senior executives of IL&FS had formed a coterie which allegedly committed fraud that resulted in wrongful loss to the company.
In his plea before the sessions court, Sankaran had sought bail on the ground that he was a senior citizen and hence, more at risk of contracting COVID-19. He also said in his plea that the high court last month quashed the criminal proceedings initiated against him and other auditors of IL&FS.