ESOP case: Ex-Religare chair Rashmi Saluja granted bail by Mumbai court

A Mumbai court granted bail to former Religare chairperson Rashmi Saluja in an ESOP irregularities case at Care Health Insurance. She was directed to furnish a Rs 3 lakh bond and barred from leaving India without the court's permission.

A Mumbai court has granted bail to former Religare Enterprises chairperson Rashmi Saluja in a case pertaining to alleged irregularities in ESOP allotments at Care Health Insurance Ltd. The order was passed on May 7 by Additional Chief Judicial Magistrate Abhijit R Solapure at the Esplanade Court in Mumbai.

The court directed Saluja to furnish a personal bond of Rs 3 lakh with one or more sureties of the same amount. It also directed that she shall not leave India without prior permission of the court.

Case Background and Charges

The metropolitan magistrate court had earlier issued a non-bailable warrant against Saluja on April 30, 2026, after noting her absence from the proceedings despite knowledge of the case. The case was registered by the Economic Offences Wing (EOW), Mumbai, under Sections 420 and 120(B) of the Indian Penal Code. The matter is presently at the stage of framing charges.

Arguments During Bail Hearing

In her bail application, Saluja submitted that she had cooperated with the investigation and was not arrested during the probe. She argued that custodial interrogation was not required after the filing of the chargesheet.

The prosecution opposed the plea, stating that there was a possibility of the accused absconding or influencing evidence. The Investigating Officer, however, filed a reply stating that he had no objection to the bail application.

Court's Ruling and Bail Conditions

While granting relief, the court referred to the Supreme Court's judgment in Aman Preet Singh vs CBI, relating to the grant of bail where the accused was not arrested during the investigation. The court also directed Saluja not to tamper with evidence, to remain present before the court on all hearing dates, and to provide proof of residence and contact details of two relatives. (ANI)

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