New Delhi: Supreme Court grants conditional bail to Ruia Group chairman Pawan Ruia on Thursday.
The Calcutta High Court on April 20 denied bail to Ruia group chairman Pawan Ruia, arrested in a case of arson and theft of railway goods worth Rs 50 crore at an ailing PSU factory, taken over by the group in 2003.
Seeking bail for the Ruia group chairman, his counsel pleaded that he has been in custody for over 110 days despite having no role in the offence.
A fire had broken out at the Jessop factory premises in Dum Dum area of North 24 Parganas district on October 17, 2016.
Ruia was neither the chairman nor the director or a shareholder of Jessop and Co Ltd, argued the defence counsel adding he was not even an occupier of any of the premises of the firm when the fire and alleged theft had taken place.
Ruia Group had taken over the ailing central PSU Jessop and Co, an engineering firm that manufactured railway coaches and road rollers, in 2003 during a disinvestment programme.
Ruia was arrested from his Sundernagar residence in Delhi by the state CID on December 10, 2016.