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No Bail for Amtek’s Former Boss: Delhi High Court Holds Firm in ₹2,700 Crore Bank Fraud Case

The Delhi High Court has turned down the bail request of Arvind Dham, once the driving force behind the Amtek Group, in a massive ₹2,700 crore bank fraud and money laundering case.

Justice Ravinder Dudeja, presiding over the matter, underlined that economic crimes of such scale cannot be weighed solely against personal liberty. The Court cautioned that releasing Dham at this stage would not only shake public confidence in the justice system but also put the integrity of the trial at risk.

Dham, accused of being the “controlling mind” behind Amtek’s alleged diversion of loan funds, is said to have woven an intricate network of over 500 shell companies to move money. According to the Enforcement Directorate, the group overstated assets, fabricated accounts, and funneled bank loans into benami firms and hidden investments. Authorities also allege that assets worth more than ₹5,000 crore were concealed in the process.

His counsel argued for bail on health grounds, pointing to his age (64) and various medical issues, while stressing that he has already been in custody for over a year. But the Court dismissed the plea, observing that adequate medical care could be provided within the prison system and that statutory conditions for bail under the Prevention of Money Laundering Act were not met.

With the trial still in its infancy, the Court concluded that societal interest must outweigh Dham’s personal plea for liberty — leaving the former corporate heavyweight behind bars as the proceedings continue.

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