Mumbai: A special court on Tuesday rejected a plea for release on a personal bond filed by an accused in the PNB fraud case linked to absconding businessman Mehul Choksi. Special judge S K Karhale directed the accused, Sunil Varma, to file a regular bail petition, noting the crime’s financial magnitude and his past conduct.In Feb 2018, CBI filed a case based on PNB’s complaint of loss of Rs 7,080.9 crore. Varma was abroad at the time. Summons were issued to his last known address and later, a non-bailable warrant was issued. Bombay HC cancelled the warrant on the condition that Varma would appear before the special court. After he complied, CBI sought permission to arrest him, which was rejected on July 18, 2024. Varma recorded a statement at the CBI office and eventually sought release under Section 88 of CrPc. TNN
