CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal were granted bail by a Thane court in a ₹7.16 million fraud case.
According to the court, there is currently no proof against them. Following a complaint at the Mumbra police station, the two founders were taken into custody in Bengaluru.
Their plea for bail was granted by Magistrate Nilesh Rathod. Each of them must provide ₹50,000 as a surety. The court said bail should be given unless there are reasons to keep them in jail. This is as per Article 21 of the Constitution, which protects a person’s freedom.
A key change happened in the case when the complainant said he got his money back from another accused.
The defence said some people pretended to be the CoinDCX founders and cheated the complainant.
They were also cheated by someone who used their identity. The investigation is still going on. Police are trying to find other accused.
CoinDCX said the complaint is false and part of a cheating scam where people are pretending to be others.
Source: Trading View
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