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Delhi High Court grants bail to Bhushan Steel ex-promoter Neeraj Singal

New Delhi: The Delhi High Court today granted interim relief to Bhushan Steel’s erstwhile promoter Neeraj Singal. The court has granted him bail. Singhal was arrested by the SFIO for allegedly siphoning off $20 billion funds.

Delhi High Court grants bail to Bhushan Steel ex-promoter Neeraj Singal

A bench of Justices S Muralidhar and Vinod Goel said Singal would be released from custody subject to his furnishing a personal bond of Rs 5 lakh and two sureties of Rs 2 lakh each.

The court also declined an oral plea made by the Serious Fraud Investigation Office (SFIO) to stay the operation of the interim order for a week.

Delhi High Court grants bail to Bhushan Steel ex-promoter Neeraj Singal

The court has imposed several conditions, including that he would not influence witnesses or hamper the investigation.

Delhi High Court grants bail to Bhushan Steel ex-promoter Neeraj SingalSingal was arrested on 8 August in relation to an SFIO investigation into the affairs of Bhushan Steel Ltd and Bhushan Steel and Power Ltd, pursuant to a May 2016 order of the Centre under the Companies Act. He was the first person to be arrested by SFIO which was given this power only in August 2017.

The post Delhi High Court grants bail to Bhushan Steel ex-promoter Neeraj Singal appeared first on NewsroomPost.



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Delhi High Court grants bail to Bhushan Steel ex-promoter Neeraj Singal

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