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The Allahabad High Court has granted interim bail to Kanpur-based Rotomac Global Company owner Rahul Kothari in a multi-crore loan default case. 

The bench of Justice Om Prakash-VII passed the order in this regard while hearing the second bail application filed by Kothari. In the main bail plea, Court has sought counter affidavit from the Serious Fraud Investigation Office in four weeks' time. The same will be next heard on April 11, 2022.

Earlier, on rejection of his first bail application in May 2021, Kothari had moved the top court through a Special Leave Petition (SLP). Amid proceedings in that, he moved one interim bail application on the ground that his father had passed away on 4 January 2022. Accordingly, an interim bail for two weeks was granted to him.

Later on, Kothari's interim bail was extended for further two weeks which got further extended till March 02, 2022. Thereafter, since Kothari's bail application could not be listed and the period of interim bail granted to Kothari was expired, therefore, he surrendered before the court concerned on March 03, 2022, and is in jail. 

Therefore, seeking relief against the same, he had moved the court for interim bail.

On 18 February 2018, the CBI registered an FIR for offences punishable under Sections 420, 467, 468, 471 and 120B of the Indian Penal Code 1860 read with Sections 13(1)(d) and 13(2) of the Prevention of Corruption Act 1988. In the case registered by the CBI, Kothari was arrested on 22 February 2018 along with his father.

Thereafter, Kothari was granted bail by the High Court on 30 November 2018 against which a Special Leave Petition was dismissed on 22 November 2019.

However, Kothari was again arrested by the Serious Fraud Investigation Office on 19 March 2020 for offences punishable under Section 447 read with Section 36(c) and Section 448 of the Companies Act 2013. Against this arrest, on Kothari's bail plea, the Allahabad High Court, by its order dated 11 May 2021, declined to grant bail.

Case Title: Rahul Kothari v. Serious Fraud Investigation Office Through Assistant Director