The Delhi High Court has dismissed the regular bail application of Arvind Dham, the promoter of the Amtek Group, in a high-profile money laundering case involving alleged fraud of over ₹26,000 crore. Justice Ravinder Dudeja delivered the verdict on August 19, 2025, emphasizing the seriousness of economic offences and their impact on public financial health.
Dham was arrested by the Enforcement Directorate (ED) in July 2024 and is accused of orchestrating a large-scale financial fraud through manipulation of accounts, inflated asset valuations, and routing funds via more than 500 shell companies. The ED’s prosecution complaint, filed in September 2024, alleges that Dham and his associates caused massive losses to public sector banks by diverting loan funds for unauthorized purposes, including real estate acquisitions and personal gains.
“Economic offences having deep-rooted conspiracies and involving huge loss of public funds need to be viewed seriously,” the Court observed, citing Supreme Court precedents.
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Dham’s counsel argued for bail on grounds of prolonged incarceration, medical infirmity, and delay in trial commencement. However, the Court noted that his medical condition-though serious-could be managed in custody with adequate medical care. It also highlighted that the statutory twin conditions under Section 45 of the Prevention of Money Laundering Act (PMLA) were not satisfied.
The Court expressed concern over the potential risk of evidence tampering and witness influence if Dham were released. It referred to specific instances where he allegedly sold undervalued properties and instructed witnesses not to cooperate with investigators.
“The applicant’s conduct demonstrates an ability and willingness to obstruct justice,” the order stated.
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With the trial still at a nascent stage and the magnitude of the alleged fraud being unprecedented, the Court concluded that granting bail would undermine public confidence in the justice system and hamper the ongoing investigation.
The bail application was accordingly dismissed. The Court clarified that its observations were limited to the bail plea and did not reflect on the merits of the case.
Case Title: Directorate of Enforcement v. Arvind Dham
Bail Application No.: BAIL APPLN. 544/2025 & CRL.M.(BAIL) 262/2025
