Bail for Pearls Group director in ₹60k crore Ponzi scam case

Special judge Sanjeev Aggarwal granted release to Chander Bhushan Dhillon, Pearls Group’s director for legal affairs, on a bail bond of ₹1 lakh and asked him not to leave the country without the court’s permission.

A Delhi court granted bail to one of the directors of the Pearls Group who are being prosecuted for a Ponzi scheme, holding he was neither a flight risk nor were there chances of him tampering with evidence.

Appearing for Chander Bhushan Dhillon, Pearls Group’s director for legal affairs, his counsel Bhanu Sanoirya contended that his client had not received any “wrongful earning” and whatever money he had got was through his salary. (REPRESENTATIVE IMAGE )

Special judge Sanjeev Aggarwal granted release to Chander Bhushan Dhillon, Pearls Group’s director for legal affairs, on a bail bond of ₹1 lakh and asked him not to leave the country without the court’s permission.

Dhillon and other directors were arrested by the CBI in December 2021 in connection with a case filed against the Pearls Group. According to investigators, the group floated several Ponzi schemes and collected about ₹60,000 crore from 55 million investors across the country.

Appearing for Dhillon, his counsel Bhanu Sanoirya contended that his client had not received any “wrongful earning” and whatever money he had got was through his salary. Granting relief, the court said that he, prima facie, held only 500 shares valuing ₹5,000 --a very meagre share holding. The court said that he was not the promoter /director or major stakeholder so as to influence the decision-making of the company.