Businessman Granted Bail Amidst Money Laundering Probe

Madhav Acharya, a businessman involved in a Rs 500 crore money laundering case, received bail after the Delhi court acknowledged the lengthy judicial process would infringe on his right to a speedy trial. The Enforcement Directorate had accused Acharya of involvement in fraudulent financial activities linked to the Avantha Group.

In a development from the Delhi judicial system, businessman Madhav Acharya has been granted bail in a substantial Rs 500 crore money laundering case. The decision came as the court recognized the prolonged nature of proceedings, warranting concern over Acharya's fundamental right to a swift trial.

Special Judge Sanjeev Aggarwal underscored the extensive time Acharya had already spent in custody, totaling four months and 18 days, as a critical factor in this decision. With investigations and legal formalities likely to drag on, the court determined that this delay should not equate to an indefinite denial of liberty.

The Enforcement Directorate's case involved allegations against key figures of the Avantha Group regarding financial misconduct. Despite the accusations, the court considered Acharya's established societal ties and the nature of evidence, primarily documentary, finding him neither a flight risk nor a threat to tamper with evidence.

(With inputs from agencies.)