Supreme Court Grants Bail to Amtek Group’s Arvind Dham in Rs 27,000 Crore Bank Fraud Case
The money laundering proceedings stem from a 2022 case against Dham, registered by the Central Bureau of Investigation following complaints by IDBI Bank and Bank of Maharashtra.
The Supreme Court on Tuesday granted bail to former Amtek Group chairperson Arvind Dham in a money laundering case. The case was linked to an alleged Rs 27,000 crore bank fraud, setting aside an earlier order of the Delhi High Court that had denied him relief.
A bench comprising Justices Sanjay Kumar and Alok Aradhe overturned the August 2025 decision of the Delhi High Court, which had refused bail on the grounds that Dham’s release could jeopardise the trial and undermine public confidence in the justice system.
The high court had characterised the allegations as grave economic offences that caused substantial losses to public sector banks, cautioning that granting bail in such cases risked eroding the fabric of economic governance.
The money laundering proceedings stem from a 2022 case against Dham, registered by the Central Bureau of Investigation following complaints by IDBI Bank and Bank of Maharashtra. The CBI accused companies of the Amtek Group of defaulting on loans through fraudulent means, including cheating and criminal breach of trust.
Pursuant to directions issued by the Supreme Court in February 2024, the Enforcement Directorate initiated its probe and registered a case in 2024. The ED has alleged that Dham was the ultimate beneficial owner of the fraud, which was carried out through systematic manipulation of financial records. According to the agency, assets and profits were overstated by more than Rs 15,000 crore, fictitious sales and purchases were created, over 500 shell companies were floated, and dummy directors were installed to siphon off public funds. Dham was arrested in July last year.
Opposing bail earlier, the high court had rejected Dham’s plea that his age and health entitled him to relief, observing that being “sick and infirm” was not a passport to bail in cases involving serious economic crimes and that his medical condition could be managed in custody.
Before the apex court, Dham argued that he is a 64-year-old senior citizen who has spent over a year in custody, that the ED investigation against him has been completed, and that the trial is unlikely to begin soon as the CBI probe is still ongoing. Taking these submissions into account, the Supreme Court granted bail, subject to conditions to be specified.
