Mumbai, October 6, 2026: The special CBI court has refused to release international business head of Mehul Choksi's Gitanjali Gems, Sunil Varma, simply on bond. Varma, though, is out on interim bail since his arrest in July 2024, and will have to obtain bail on merits.
Varma, who is said to be a very close associate of another accused, Mehul Choksi, appeared before the special court in July 2024, after he had expressed his desire to surrender and had filed a petition before the High Court.
The CBI had sought to arrest him, but their plea was rejected. In the meanwhile, Varma was released on interim bond. Besides, his lawyer had sought bail and asked for his release on only execution of bond. The plea was since pending.
Defence Challenges Proceedings
Varma's lawyer had contended that he was not in India in the year 2017. The complaint in the case was filed on February 15, 2018, and a supplementary chargesheet has been filed against Varma on June 10, 2021. It was contended that there was no proper service to the applicant and the special court had issued NBW against him.
It was pointed out that the warrant was cancelled by the High Court on condition to appear before the special court. Hence, he appeared.
CBI Opposes Bail Plea
The plea was opposed by the special CBI prosecutor, Limosin A, who contended that the accused has not co-operated during the course of investigation.
The court rejected Varma's plea, noting that the supplementary chargesheet was filed against him in his absence, to for the purpose of extradition proceedings against the accused as he was not ready to return to India. Therefore, it cannot be held that the accused has co-operated for the investigation.
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The court said, "accused was very well knowing about the commission of crime and his involvement therein and hence he flee away before registration of crime." His appearance was not voluntarily, but it was under compulsion and because of issuance of the NBW, the court further said, rejecting his plea.
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