Amtek

These companies had secured loans exceeding Rs 25,000 crore from a consortium of public sector lenders

The Supreme Court on Tuesday granted bail to former Amtek Group chairperson Arvind Dham in a money laundering case related to Rs 27,000 crore bank fraud. A bench of Justices Sanjay Kumar and Alok Aradhe set aside a Delhi High Court order which had denied bail to him. Justice Aradhe, who was sitting in a bench led by Justice PS Narasimha, pronounced the verdict, saying the court has allowed the appeal of Dham in the case. The Delhi High Court had denied bail to Dham on August 19 last year, saying premature release could risk undermining efforts to secure accountability. "With the advancement of technology and Artificial Intelligence, economic offences such as money laundering have emerged as a serious threat to the financial system of the country. These offences pose a significant challenge for investigating agencies, given the complex and intricate nature of the transactions and the involvement of multiple actors," the high court had said. The high court added that a meticulous an

These assets and operating assets were carved out as part of a resolution plan approved by the NCLT in 2022

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The steep loss is mainly on account of a high finance cost of Rs 1,305 crore for the year

Company close to reduction of Rs 10,500 crore in debt