Loan fraud case: Delhi High Court grants bail to Matang Sinh

The Delhi High Court has granted anticipatory bail to former Union minister Matang Sinh, facing arrest in a default case where he allegedly did not repay a Rs 67-crore loan taken from Canara Bank.

A vacation bench of Justice V P Vaish extended relief to Sinh on the ground that he has undergone liver transplantation and has been suffering from various complications.

"Having considered all the facts and circumstances of the case, it is directed that in the event of arrest, petitioner (Sinh) be released on bail on furnishing of personal bond in the sum of Rs 50,000 with one surety of like amount to the satisfaction of the investigating officer/arresting officer subject to the condition that he shall join investigation as and when required to do so and he shall not tamper with the prosecution witnesses," the court said.

It also observed that "In the instant case, the petitioner has been able to make out a case for the anticipatory bail on account of the fact that no recovery of any article is to be effected inasmuch as the entire payment (Rs 100 crore) has been made to the complainant bank in terms of the One Time Settlement."

However, Sinh will have to stay behind bars as he has also been arrested by CBI in February in connection with the Saradha chit fund scam on charges of criminal conspiracy, cheating and misappropriation of funds. The arrest had come five months after a CBI raid at his house in Delhi.

Advocate Hemant Shah and Kunal Sharma, appearing for Sinh, sought anticipatory bail on the ground that their client has been falsely implicated in the case and was ready to join the investigation. They have also informed the court that the parties have entered into a settlement on March 3, 2013.

CBI's counsel said Sinh's custody was required as the accused has to be confronted with the bank officials and the documents seized by the agency.