Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Oct 29: The state high court has sanctioned conditional bail to Mohammed Mansoor Khan, main accused in the I Monetary Advisory (IMA) scam said to be running into hundreds of crores of rupees.

The court where his case is being heard had refused to grant him bail in a case registered by the Enforcement Directorate (ED), on August 18.

Advocates appearing for Mansoor Khan told the high court that the police investigation in the case has concluded and that Mansoor Khan has been in judicial custody from August 1 last year. "He has been suffering from heart-related ailments. There was a 100 per cent blockage in the veins, and he also suffers from backache caused by osteoporosis, " they explained. They also submitted a letter issued by the chief medical officer to the chief superintendent of the central prison in this connection.

Special legal counsel Madhukar Despande arguing on behalf of the ED, said that out of Rs 4,000 crore collected by IMA, Rs 1,323 crore has been refunded. He said that Mansoor has, in the meanwhile, acquired property worth Rs 209 crore which he is likely to dispose of, in which case, interests of the investors will be harmed.

Judge of the high court, Justice Sreenivas Harishkumar, noted that as per the letter issued by the chief medical officer, Mansoor Khan needs regular medical supervision. He noted that the medical officer has clearly mentioned that he needs various kinds of tests and treatment, which cannot be ignored. He opined that considering these things, he can be granted bail.

For keeping the jurisdictional court satisfied, the bond of Rs 5 lac and surety from another person for the like amount should be provided. Property should not be disposed of. Relating to health issues if he has to go out of the court jurisdiction, he has to obtain the permission of that court. When giving permission, the court can impose conditions, the judge said.