SC grants bail to ex-Bhushan Steel promoter Neeraj Singal
Millennium Post Delhi|September 07 , 2024
The Supreme Court on Friday ordered the release of Neeraj Singal, the former promoter of Bhushan Steel, in connection with a money laundering case tied to an alleged Rs 46,000 crore bank fraud.
MPOST BUREAU
  • ₹46,000 CR MONEY LAUNDERING CASE

The court ruled that the Enforcement Directorate (ED) had not followed due process during his arrest.

A bench comprising Justices Sanjiv Khanna and Sanjay Kumar noted that Singal had been imprisoned for 16 months, and with the trial unlikely to conclude soon, his continued detention raised concerns. During the hearing, the bench remarked: "A line has to be drawn somewhere in economic offences. You can't shake up the economy, shake up the confidence of the market and shareholders."

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