Monty Chadha gets bail in Rs 100 crore fraud case

New Delhi: A Delhi court on Monday granted bail to businessman and Vice Chairman of the Wave Group, Manpreet Singh Chadha alias Monty Chadha, in a Rs 100 crore fraud case.

Additional Sessions Judge Gulshan Kumar asked Monty Chadha to furnish a personal bond of Rs 50,000 with two sureties of the same amount.

While granting bail, the court directed Chadha not to leave the country without permission.

Last week, his bail plea was rejected by a magistrate.

Monty Chadha, son of Ponty Chadha, a liquor and real estate baron who was killed in a shootout six years ago, was arrested in connection with the Rs 100 crore fraud case.

Senior advocates Vivek Tankha and Vikas Pahwa, appearing for Monty Chadha, told the court that their client was co-operating with the investigators.

They also told the court that Monty Chadha's intention was not to cheat investors.