Supreme Court Grants Bail to Amtek Group Promoter in Money Laundering Case, Citing Right to Speedy Trial

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In a significant ruling, the Supreme Court on Tuesday granted bail to Arvind Dham, former promoter of Amtek Group, in a money laundering case linked to an alleged multi-crore bank fraud. The court held that prolonged incarceration without a trial violates the fundamental right to a speedy trial, even in serious economic offenses. The bench of justices Sanjay Kumar and Alok Aradhe set aside the Delhi High Court's order, which had refused to grant Dham bail due to concerns that his release could compromise the trial and undermine public confidence in the justice system. However, the Supreme Court emphasized that economic offenses cannot be treated as a homogeneous class and that the nature of the offense does not override the constitutional guarantee of a speedy trial. The court noted that Dham had been in custody for over 16 months and that the investigation against him had concluded, with documentary evidence already seized. The bench pointed out that the prosecution had not taken cognizance of the complaint, and the matter was still at the stage of scrutiny of documents. With 210 witnesses cited and no progress despite an application for day-to-day hearing, the court held that continued incarceration was unjustified. The Supreme Court directed that Dham be released on bail during the pendency of the trial, subject to certain conditions, including providing a mobile number to the Enforcement Directorate and surrendering his passport. The court's ruling is seen as a significant development in the case, which stems from a 2022 FIR registered by the Central Bureau of Investigation on complaints by IDBI Bank and Bank of Maharashtra.