The Delhi High Court has granted interim bail to a practicing lawyer accused of operating a Rs 100 crore Ponzi scheme, emphasizing the potential adverse impact on his children's education. Justice Manoj Jain issued the order on April 23 while considering the bail plea of the accused, who is currently in judicial custody in a case registered by the Economic Offences Wing (EOW) of Delhi Police.
The accused, a member of the Shahdara Bar Association who previously practiced at Karkardooma Courts, faces multiple First Information Reports (FIRs) across North India, including in Dehradun, Yamuna Nagar, Kurukshetra, Karnal, and Delhi. He is alleged to have defrauded investors of approximately Rs 100 crore by promising high returns through stock market investments. The charges include cheating, criminal breach of trust, conspiracy, and violations under the Banning of Unregulated Deposit Schemes Act, 2019.
During the hearing, the accused's counsel, advocate Ujwal Ghai, informed the court that his client had already secured default bail in three cases due to delays in filing charge sheets and regular bail in another matter from the Punjab and Haryana High Court. He remains in custody only in the present EOW case, the counsel stated.
Seeking interim relief, the defense urged the court to adopt a humanitarian approach, arguing that the accused needed to arrange funds for his children's school admissions, which could otherwise be jeopardized. The State opposed the plea, contending that the children's mother, who is also a co-accused and currently out on bail, could handle the admission process and that the father's presence was not essential.
The court, however, noted that the accused's presence might be necessary to arrange finances and that denying interim bail could harm the children's educational prospects. "If interim bail is not granted, it would spoil the chance of admission of his children in school, which may seriously prejudice their educational career," the court observed.
Taking these factors into account, the High Court granted interim bail for two weeks from the date of release, subject to a personal bond and one local surety of the like amount to the satisfaction of the trial court.
