A special judge in Hyderabad has granted bail to Rishi Gupta, the managing director of Fino Payments Bank, as part of an ongoing investigation into alleged GST evasion.
The bail was approved following an order from the EO EC PC Courts, allowing Gupta to secure his release on a personal bond of ₹10 lakh, along with two sureties of the same amount.
Several conditions have been imposed by the court:
- Gupta must deposit his passport.
- He is required to seek prior permission before traveling outside India.
- He must appear before the relevant authorities on the first and third Monday of each month between 10 AM and 5 PM until further notice.
Inc42 has reached out to Fino Payments Bank for comments regarding this development, and updates will follow based on their response.
This bail comes shortly after the Telangana High Court dismissed Gupta's writ petition seeking bail just two days prior.
