Solar scam: Kerala HC grants bail to Saritha
The Kerala High court on Friday granted bail to Saritha S. Nair, an accused in the solar panel scam.The accused was given bail in two cases registered in Ernakulam North Police station.
However, since there are other cases pending against her, Ms. Saritha will remain in jail.
Justice Thomas P Joseph directed the accused to deposit Rs. 5 lakh each in both the cases and produce fixed deposit receipts before the Additional Chief Judicial Magistrate court (Economic offences) court here.
The court also said if finally compensation is awarded by the court after trial, this amount can be utilised.
The accused has been directed not to leave the state and to surrender her passport. Saritha has also to execute a bail bond of Rs. 15,000 and two solvent sureties for the like amount.
Ms. Saritha was arrested on June 3 and is in custody since then.
The solar scam pertains to duping of scores of investors to the tune of crores of rupees by the accused by promising solar panel solutions by claiming that they had contacts with highly-placed persons in the government.
According to the two complainants, Ms. Saritha had collected Rs. 17.5 lakh and Rs. 23.5 lakh from them promising them dealerships in the solar company. She has returned Rs. 6.5 lakh to one of the complainants.