A magistrate's court in Mumbai granted bail to Rashmi Saluja, former executive chairperson of Religare Enterprises, in connection with a cheating and criminal conspiracy case registered by the Economic Offences Wing (EOW). The case involves allegations of irregularities related to Employee Stock Ownership Plans (ESOPs).
Court's Observations on Conduct
The court noted that while the accused was not arrested during the investigation, her conduct during the legal process was a matter of concern. The record indicated that Saluja failed to appear before the court even after becoming aware of the proceedings.
Prosecution's Objections
The prosecution had opposed the bail plea, with the public prosecutor arguing that Saluja might abscond or use her liberty to tamper with evidence. The court, however, decided to grant bail but imposed strict conditions.
Conditions Imposed
Imposing strict conditions, the court ordered that Saluja must not leave India without prior permission and must attend every date of the trial. Additionally, she was directed to provide contact numbers for two relatives and proof of her permanent residence to ensure her availability for future proceedings.
This development comes as part of an ongoing investigation into financial irregularities at Religare Enterprises, which has been under scrutiny for various governance issues. The EOW had registered the case following complaints about alleged manipulation of ESOP schemes, leading to significant financial losses for the company.
