
In a significant development, a Delhi court has granted bail to Nitin Johri, the former Chief Financial Officer (CFO) of Bhushan Steel Limited, who was implicated in a money laundering case related to an alleged ₹56,000 crore bank loan fraud. The decision, made by Special Judge Jagdish Kumar of the Rouse Avenue Court, took into consideration Johri’s severe health issues.
Background of the Case
Nitin Johri was arrested by the Enforcement Directorate (ED) in January 2024, amid accusations of his involvement in a large-scale bank loan fraud committed by Bhushan Steel. Following his arrest, Johri was diagnosed with cancer and underwent surgery. His health condition, including the removal of a cancerous kidney and subsequent development of chronic kidney disease, was a significant factor in the court’s decision to grant bail.
Court’s Observations
- Health Condition:
The court acknowledged Johri’s critical health condition, noting that he falls under the category of sick and infirm. The court emphasized that his health issues necessitated urgent and adequate medical treatment, which could be better managed outside of the jail environment. - Medical Assessment:
Despite opposition from the ED, which argued that Johri could be treated within the jail hospital, the court found that the existing medical facilities were insufficient for his needs. Consequently, the court directed AIIMS to constitute a medical board to assess his health and provide the necessary treatment recommendations. - Conditions for Bail:
The bail was granted with conditions that ensure Johri’s cooperation with the ongoing investigation. The court mandated that Johri should continue to be available for any required interrogation and must not leave the country without prior permission.
Implications of the Ruling
- Humanitarian Considerations:
The court’s decision underscores the importance of considering humanitarian grounds, particularly health-related issues, in judicial decisions involving custody. - Legal Precedent:
This ruling sets a precedent for future cases where severe health conditions of the accused may warrant bail despite the gravity of the allegations. - Accountability and Investigation:
While granting bail, the court balanced the need for medical care with the requirement to ensure accountability and the continuation of the investigation into the serious allegations against Johri and Bhushan Steel.