Supreme Court Grants Bail to Former Amtek Chairman in ₹27,000-Crore Bank Fraud Case

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The Supreme Court has granted bail to Arvind Dham, the former chairman of the Amtek Group, in a high-profile bank fraud case worth ₹27,000 crore. The court's decision overturns the August 2025 order of the Delhi High Court, which had denied Dham bail citing concerns that his release could compromise the trial and undermine public trust in the justice system. Dham, 64, had spent over a year in custody and argued that he was entitled to bail due to his medical condition. However, the Enforcement Directorate (ED) opposed the plea, saying that Dham was the mastermind behind the alleged fraud and had orchestrated a complex scheme involving hundreds of shell companies and falsified accounts. The ED had accused Amtek Group companies of defaulting on loans through fraudulent means, resulting in substantial losses to public sector banks. The agency alleged that Dham was the ultimate beneficiary of the fraud, which involved overstating assets and profits by over ₹15,000 crore. The Supreme Court's decision to grant bail to Dham comes after a lengthy investigation and probe by the Central Bureau of Investigation (CBI) and the ED. The case highlights the need for stringent measures to prevent economic crimes and ensure accountability for those involved in such offenses. In a statement, the ED said that it would continue to pursue the case against Dham and other accused parties, with a focus on recovering the losses incurred by public sector banks. The agency has registered a case against Dham under the Prevention of Money Laundering Act (PMLA) and is pursuing further investigations to unravel the complex web of financial transactions and shell companies involved in the alleged fraud.