SC Denies Interim Bail to Ex-Amtek Chairperson in ₹2,700 Crore Fraud Case

In a significant development in the ₹2,700 crore bank fraud case, the Supreme Court on Monday refused to grant interim bail to former Amtek Group chairperson Arvind Dham. The bench comprising Justices Sandeep Mehta and Prasanna B Varale dismissed Dham’s plea, citing previous rejection by a three-judge bench headed by then Chief Justice Sanjiv Khanna.

Court Criticises Vacation Plea Strategy

The Supreme Court expressed disapproval over Dham’s attempt to seek relief during the vacation period, labelling it as a strategy to reintroduce a matter already dismissed. “We aren’t at all impressed by the tactics of the petitioner,” the bench remarked, highlighting the attempt to seek the same relief previously denied.

Dham had been out on interim bail on medical grounds, which the Delhi High Court extended until April 7. The apex court had earlier ordered him to surrender the next day, but the latest plea was again denied.

Long-Pending Bail Plea and Counsel Appearance

Senior advocate Mukul Rohatgi, representing Dham, argued that his client had already spent 11 months in jail and that a regular bail petition had been pending before the Delhi High Court since February 2025. However, he eventually withdrew the plea, and the court questioned the involvement of senior counsel during vacation hearings.

ED Action: ₹550 Crore in Fresh Attachments

Meanwhile, the Enforcement Directorate (ED) has provisionally attached fresh assets worth over ₹550 crore of Amtek Group firms in connection with the same case under the Prevention of Money Laundering Act (PMLA). The action includes properties belonging to companies such as Amtek Auto, ARG Limited, and Metalyst Forgings.

Also Read: NFRA Demands Audit Files from IndusInd Bank Over Derivatives Discrepancies!

Conclusion

The case continues to unfold with significant legal and financial consequences, as authorities intensify their crackdown on corporate fraud and money laundering.

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