A Mumbai court has granted bail to President (Finance) of the Nirav Modi-owned Firestar Group of Companies Vipul Ambani, who was implicated in the PNB Scam that sent shockwaves through the country earlier this year..Ambani was granted bail by Special CBI Judge JC Jagdale nearly six months after he was arrested. He was represented by Senior Counsel Amit Desai, who was assisted by advocate Ameet Naik and Pranav Badheka of Naik Naik and Co..Desai had argued before the court that there was no material in the charge sheet filed by the Central Bureau of Investigation (CBI) to substantiate the allegations of connivance, conspiracy, and tampering of evidence leveled against Ambani..The CBI had alleged that Ambani was in touch with a law firm when the scam had just come to light and that incriminating documents were found in the office of the Firestar Group of Companies, of which Ambani was President..After hearing the arguments, the court granted conditional bail to Ambani in an order passed today..He has been directed to execute a bond of Rs. 1 lakh, and to surrender his passport till the same is furnished. Ambani has also been directed not to leave the country and to furnish his permanent address and contact numbers to the CBI. Further, Judge Jagdale has directed him not to tamper with the prosecution evidence..The matter has now been adjourned to August 16..Ambani was arrested on February 20 after the CBI alleged he was aware of the illegal letters of undertaking issued by Punjab National Bank’s former deputy manager Gokulnath Shetty..Read the order:.Image taken from here.
A Mumbai court has granted bail to President (Finance) of the Nirav Modi-owned Firestar Group of Companies Vipul Ambani, who was implicated in the PNB Scam that sent shockwaves through the country earlier this year..Ambani was granted bail by Special CBI Judge JC Jagdale nearly six months after he was arrested. He was represented by Senior Counsel Amit Desai, who was assisted by advocate Ameet Naik and Pranav Badheka of Naik Naik and Co..Desai had argued before the court that there was no material in the charge sheet filed by the Central Bureau of Investigation (CBI) to substantiate the allegations of connivance, conspiracy, and tampering of evidence leveled against Ambani..The CBI had alleged that Ambani was in touch with a law firm when the scam had just come to light and that incriminating documents were found in the office of the Firestar Group of Companies, of which Ambani was President..After hearing the arguments, the court granted conditional bail to Ambani in an order passed today..He has been directed to execute a bond of Rs. 1 lakh, and to surrender his passport till the same is furnished. Ambani has also been directed not to leave the country and to furnish his permanent address and contact numbers to the CBI. Further, Judge Jagdale has directed him not to tamper with the prosecution evidence..The matter has now been adjourned to August 16..Ambani was arrested on February 20 after the CBI alleged he was aware of the illegal letters of undertaking issued by Punjab National Bank’s former deputy manager Gokulnath Shetty..Read the order:.Image taken from here.
