HC grants bail to Chairman of Private Medical College in money laundering case
Chennai: Chairman T D Naidu of defunct DD Medical College, arrested in a Rs 150 crore money laundering case by the Enforcement Directorate, has been granted bail by the Madras High Court on ground of his poor health.
Justice S Vaidyanathan granted bail to Naidu, stipulating that the accused would not go out of Tamil Nadu without the trial court's permission and would surrender his passport to the investigating agency.
The court granted him bail on a personal bond of Rs 25,000 with two sureties of like amount to the satisfaction of the trial court judge, while warning him against trying to tamper with the evidence or influence witnesses in the case or making bid to abscond.
According to the prosecution, Naidu had cheated several students by taking nearly Rs 45 lakh from each of them for admission despite his institute having no approval of the Medical Council of India to function. Nearly 70 cases had been registered against Naidu.
Allowing Naidu's bail plea, the judge in his June 28 order said the petitioner had been in prison for nearly two years and as per medical reports, had been suffering from certain ailments.
The court enlarged Naidu on bail, referring to the Section 45(1) of the Prevention of Money Laundering Act, 2002, which provides for grant of bail to the sick or infirm accused.
The judge granted bail to Naidu noting that no custodial interrogation of the accused was required at the present.
The judge also directed the special court to dispose of the case expeditiously by conducting day-to-day trial.