Money Laundering Case: Delhi HC Rejects Bail To Arvind Dham

The Delhi High Court on Tuesday dismissed the bail application of businessman Arvind Dham, promoter of the Amtek Group, who is facing prosecution in a money laundering case linked to an alleged ₹20,000-crore bank fraud.

Justice Ravinder Dudeja rejected the plea after hearing both sides, though the detailed order is yet to be uploaded. The court had earlier denied interim bail to Dham, who has been in judicial custody since July 2024.

Appearing for the accused, senior advocate Vikas Pahwa sought bail on medical grounds. The plea was strongly opposed by ED counsel Zoheb Hossain and special public prosecutor Manish Jain, who appeared with advocate Snehal Sharda.

The Enforcement Directorate alleged that Dham and others siphoned off thousands of crores in loan funds through fictitious sales and inflated accounts, diverting the money into real estate, overseas ventures, and new businesses. The probe stems from a CBI FIR against ACIL Ltd, an Amtek Group company, and was later expanded under directions of the Supreme Court.

In June, the ED carried out raids at 35 locations across Delhi, NCR, Mumbai, and Nagpur, claiming that the fraudulent transactions caused losses of nearly ₹10,000–15,000 crore to a consortium of banks.

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