Overview

• Justice Ravinder Dudeja dismissed Arvind Dham’s bail plea, terming the alleged conduct an economic offence of exceptional magnitude.
• The court said releasing him could compromise the trial, undermine confidence in the justice system, and harm depositors and creditors.
• Dham’s claim for relief as a “sick and infirm” prisoner under Section 45 was rejected, with the court noting his condition can be managed in custody and that the twin bail conditions were not satisfied.
• The case flows from CBI FIRs in 2022 based on complaints by IDBI Bank and Bank of Maharashtra, with an ED probe ordered by the Supreme Court in February 2024, followed by Dham’s July 2024 arrest and a September chargesheet.
• ED investigations allege inflated financials, fictitious transactions, and the use of hundreds of shell entities in a scheme tied to the alleged ₹27,000‑crore fraud, alongside asset attachments totaling ₹5,115.31 crore earlier and a fresh block exceeding ₹550 crore.