The Delhi High Court on Monday granted bail to Kanimozhi, daughter of DMK chief Karunanidhi, and four company executives charged in a telecoms licensing scandal that has rocked the government and businesses in Asia’s third-largest economy.
The court also granted bail to Sarath Kumar of Kalaignar TV, Karim Morani of Cineyug and DB Realty’s Rajiv Aggarwal and Asif Balwa.
The five will have to provide a bail bond of Rs 500,000 each and a guarantee of a similar amount. Full details of the order were not immediately available.
The executives are among the three companies and 14 individuals charged in the alleged rigging of a 2007/08 grant of lucrative telecoms licences that the Comptroller and Auditor General said cost the government up to $39 billion in revenue.
Last week, the Supreme Court granted bail to Sanjay Chandra, the managing director of Unitech; Vinod Goenka, chairman of DB Group; and three executives from billionaire Anil Ambani’s group who had been held in jail since April.
All accused in the case have denied any wrongdoing.
The scandal is the largest of several that have emerged in Prime Minister Manmohan Singh’s second term, weakening the government’s political authority. Attacked by a resurgent opposition, policy-making has drifted into limbo amid the controversies.
The case has also spooked investors after investigators questioned powerful tycoons, including billionaire Anil Ambani.