Advocate Vijay Aggarwal appearing for Kapoor, submitted that Kapoor had not been arrested by ED during investigation of the matter and post filing of the prosecution complaint without arrest, was entitled to be released on bail.
He pointed out that the offences against Kapoor was punishable with maximum imprisonment of seven years.
Since the bail jurisprudence was divided for offence punishable upto 7 and more than 7 years, Kapoor deserves the discretion of the court to be released on bail, Aggarwal contended.
Advocate Sandeep Kapur from Karanjawala & Co. supplemented the arguments by pointing out that the proceeds of crime in the present case had already been duly secured as ED had provisionally attached property, and hence there was no question of fleeing from justice.
Special Public Prosecutor Sunil Gonsalves opposed the bail application stating that the case is an economic offence having a magnitude of more than ₹300 crores.
Source: Barandbench
