Court calls Mumbai security services firm's former MD ‘tainted’, denies him bail

Mumbai: Rejecting the bail application of M Sasidharan, former Managing Director of security services firm TOPSGRUP, a court on Thursday said that such a 'tainted person' in its view is not entitled to be released on bail. Additional Sessions Judge Abhijeet A Nandgaonkar said in his detailed order that such type of economic crime is serious in nature and a termite to Indian economy, which not only causes threat to the security of India, but also plays a key role in damaging the GDP of the country. Therefore, it said, such a tainted person in its view, is not entitled to bail.

The 70-year-old had claimed bail also on the grounds of his age-related ailments and aged wife who needs care. The court said regarding this, that he will be provided medical aid by jail authority. It further said that while committing such crime to gain illegally one has to think of the consequences of playing with fire like black money and money laundering.

Referring to Whatsapp chats in which it is allegedly revealed that Sasidharan had tried to offer illegal gratification to MMRDA officials, it said that the applicant being an ex-serviceman cannot rely on his laurels, rather, that due to such act his credibility being an ex-serviceman is at stake.

The court in another part of the order said that understanding between the accused are clear enough to hold their key role in commission of offence of money laundering of proceeds of crime.

Judge Nandgaonkar also considered that he is a permanent resident of Kerala and the possibility of his absconding to evade trial cannot be ruled out. It said that if that happens, it will be an uphill task to secure his appearance.

Sasidharan is accused in a 175 crore money laundering case in which TOPSGRUP is alleged to have cheated MMRDA.

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