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MP High Court grants bail in Rs 15.15 lakh case
The Economic Times··4 Sept
Madhya Pradesh High Court Justice Ajay Kumar Nirankari on August 18, 2026 granted anticipatory bail to 78-year-old Jayaramaiah of Tumakuru in a cheating case. Police said about Rs 15.15 lakh of a Rs 26.15 lakh fraud reached his ICICI account. He earlier won transit bail from the Karnataka High Court. The court did not clear him and the investigation continues.
Prism
What It Means For You
- Jayaramaiah has anticipatory bail protection from arrest while the Tikamgarh case continues.
- His counsel told courts he will appear before investigators with reasonable notice.
- Police still treat the Tumakuru ICICI account as receiving alleged crime proceeds.
What's Happening
- A Madhya Pradesh complainant said fraudsters posing as insurers took Rs 26.15 lakh, with Rs 15.15 lakh sent to Jayaramaiah.
- Transfers into the Tumakuru account ran between July 6 and December 26 of 2023.
- The case is Crime No. 149/2024 at Bamhori Kala Police Station in Tikamgarh district.
How The Bail Was Argued
- Advocate Sandeep Kumar Sen said Jayaramaiah did not knowingly benefit from the transactions.
- Government advocate Amit Pandey opposed bail, calling it a serious economic offence still under probe.
- The court held that mere credit of funds was insufficient to infer knowing participation.
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