Special judge S K Karhale directed the accused, Sunil Varma , to file a regular bail petition, noting the crime’s financial magnitude and his past conduct. Mumbai: A special court on Tuesday rejected a plea for release on a personal bond filed by an accused in the PNB fraud case linked to absconding businessman Mehul Choksi .
In Feb 2018, CBI filed a case based on PNB’s complaint of loss of Rs 7,080.9 crore. After he complied, CBI sought permission to arrest him, which was rejected on July 18, 2024. Varma recorded a statement at the CBI office and eventually sought release under Section 88 of CrPc.
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Bombay HC cancelled the warrant on the condition that Varma would appear before the special court.