HC grants bail to CEO of ponzi firm

Cuttack: Orissa high court granted bail to CEO of ‘Yes World’ Sandeep Chowdhury accused of duping people of their hard-earned money by operating a ponzi/multi-level marketing (MLM) scheme in the name of a fake crypto currency company as the virtual currency has not been banned or declared illegal as of now in the country.Chowdhury, who has been languishing in custody since his arrest by the economic offence wing (EOW) on Nov 17, 2023 had moved the high court for regular bail after the designated court for under the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, in Cuttack rejected his bail plea.The single judge bench of Justice Aditya Kumar Mohapatra on Tuesday said, “This court on a careful analysis of facts and materials on record is of the view that trading or transacting in cryptocurrency has not been declared illegal as of now in the country either by the govt or any statutory authority. Therefore, mere trading in cryptocurrency cannot be held to be illegal at this juncture.” Observing that “cryptocurrency is a phenomenon not confined to Odisha, rather it is a pan India phenomenon,”Justice Mohapatra said it is clear from a Supreme Court judgment on March 4, 2020 that the RBI has not banned the virtual currency and the Government of India is yet to take a call on the issue. Several committees constituted for the purpose have come up with different proposals, no tangible steps have been taken.

Supreme Court grants bail to NCP neta on medical grounds till plea for regular bail heard

The Supreme Court allowed NCP leader Nawab Malik to stay on medical bail until the Bombay High Court decides on his regular bail request. Malik's condition remains critical with one kidney failure. The Enforcement Directorate did not oppose the plea. Malik was arrested in February 2022 for a money laundering case linked to Dawood Ibrahim's Goawala compound property.

LG defamation: Delhi court suspends Medha Patkar's jail term, grants her bail

A New Delhi court suspended Medha Patkar's sentence in a defamation case from 2000 filed by VK Saxena. Patkar was granted bail with conditions, including a Rs 25,000 bond, following a five-month imprisonment sentence.

Charges grave: What Delhi court said on IAS officer Puja Khedkar's pre-arrest bail plea

A Delhi court denied anticipatory bail to trainee IAS officer Puja Khedkar, accused of cheating and forgery, as the allegations were deemed serious and required thorough investigation. The judge highlighted the need for custodial interrogation to uncover the conspiracy and noted her actions defrauded UPSC and deprived eligible candidates with benchmark disabilities of their rightful opportunities.