MUMBAI: The Bombay High Court has relaxed two bail conditions imposed on Pune-based builder Avinash Bhosale in the corruption case linked to Dewan Housing Finance Ltd (DHFL) and Yes Bank.
The court said the requirement that he surrender his passport before every overseas business trip was “onerous”.
One of those conditions required him to attend all court hearings in person. Bhosale has denied the allegations, saying all the transactions were legitimate business dealings. The Enforcement Directorate (ED) is also investigating money-laundering allegations against Bhosale.
On August 27, a single-judge bench of justice Milind Jadhav allowed Bhosale’s application seeking changes to conditions set by the trial court in May 2024. Bhosale, chairman and founder of ABIL Group, was arrested by the CBI on May 26, 2022. On May 17, 2024, justice NJ Jamadar of the Bombay High Court granted him bail on a personal bond of ₹ 1 lakh.
The High Court directed Bhosale to submit an undertaking within a week, assuring that his lawyer will be present on every hearing date before the trial court. Bhosale had approached the High Court last year, saying he needed to travel abroad from time to time for business and other purposes. The agency had earlier arrested Rana Kapoor and DHFL promoters Kapil and Dheeraj Wadhawan, alleging that they were part of a conspiracy to provide financial assistance to DHFL in return for substantial undue benefits to Kapoor and his family members.
If his mobile number or address changes while he is abroad, Bhosale must email the updated details to the investigating officer concerned, the court said. The court directed that Bhosale’s passport be returned to him immediately on the basis of a certified copy of its order. It also asked him to submit details of any planned overseas travel to the CBI every six months in advance.
the High Court said the trial court may order his personal presence on any particular hearing date While allowing Bhosale’s lawyer to appear before the trial court in his place.
If such an order is passed, Bhosale will have to appear before the court.
The court removed the passport-surrender condition. Instead, it directed Bhosale to inform the Central Bureau of Investigation (CBI) about his travel plans before leaving the country. He must provide his overseas address, details of his stay and return journey.
