Delhi High Court on Thursday granted regular bail to Aditya Kumar Bhandari, erstwhile director of the Rockland hospitals in an alleged fraud case. He was arrested in December last year.
Justice Suresh Kumar Kait ordered the release of Bhandari on bail on a personal bond and surety of Rs 50,000.
The case being investigated by the Serious Fraud Investigation Office (SIFO) is a private dispute between the earstwhile promoter directors of Rockland hospitals and the new management, which took over the company in June 2016.
The private dispute has resulted into registration of multiple cases during the years 2017-18. In 2019, all cases were compromised and a consent award was passed by arbitrators comprising of former Chief Justice of India TS Thakur.
Senior advocate Vikas Pahwa, appearing for Bhandari, argued that the complaints made to SFIO were also withdrawn, however SFIO decided to continue with the investigation and arrested two directors in December last year, even though the matter was settled between the parties.
Pahwa argued that the SFIO had no jurisdiction to continue with the investigation.
"It was a private dispute, no public money or public interest was involved in this case. All the banks and creditors were paid by promoters in 2016 itself. Prabhat Srivastava, another director of the company, was recently released on interim bail of 45 days on medical grounds by Delhi High Court," Pahwa said.
The 18 others accused persons named in the complaint were never arrested by the SFIO during the investigation, Pahwa added.
( With inputs from ANI )