Special Court Orders One Defendant Jailed, Three Released on Bail in Himalayan Reinsurance Case
Summary
The Special Court has ordered Amit Mor to be sent to jail while three other defendants are released on bail in the Himalayan Reinsurance funds misuse and money laundering case. The accused are alleged to have routed about Rs 2.73 billion through brokers for the benefit of others.
Key Points
- The Special Court ordered one defendant, Amit Mor, to be sent to pre-trial detention and released the other three on bail.
- Rajiv Mor, Deepak Kumar Shrestha, and Sumer Shamsher J.B.R. were set bail amounts of Rs 1 crore, Rs 50 lakh, and Rs 25 lakh respectively.
- The defendants are accused of misusing about Rs 2.73 billion of Himalayan Reinsurance funds through brokers and laundering money.
- The court said its order was based on the evidence available, despite the defendants denying the allegations.
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