Cheating case: Delhi court to continue hearing bail plea of Satya Prakash Bagla on February 16

A Delhi court on Friday heard the arguments on businessman Satya Prakash Baglas bail plea in a case of alleged cheating with investors. The counsel also referred to Supreme Court precedents to argue that just because Baglas co-accused are evading arrest and absconding does not mean it can be a ground for the court to reject his bail application.

A Delhi court on Friday heard the arguments on businessman Satya Prakash Bagla's bail plea in a case of alleged cheating with investors. Additional Sessions Judge Shunali Gupta heard the arguments presented by Bagla's counsel and deferred the rest of the proceedings. The State will present its arguments at 12 noon on Monday. Bagla's counsel argued that there is no further need for custodial interrogation as the businessman is in custody since January 9 and police allegedly did not interrogate him for more than 10 minutes everyday, despite being granted full access to him for more than a month. The investigating officer (IO) has taken custody of Bagla's devices but accused him of deleting material crucial to the investigation prior to handing those over. The counsel argued that in the absence of a Forensic Sciences Laboratory (FSL) report proving his claims, the IO cannot make accusations of tampering with evidence. ''Mere apprehension of tampering with evidence with no substantial proof is not a ground to deny bail,'' he said. The counsel also said that Bagla has been struggling with many ailments as he had high blood pressure and only one functioning kidney at the time of his arrest. He was admitted to the Intensive Care Unit (ICU) prior to his police custody in January, the lawyer told the court. The counsel also contended that Bagla would not prove to be a flight risk as he is an affluent businessman with steady work in India. He has previously travelled abroad, never abused his personal liberty and always returned to the country, the lawyer said. The counsel also referred to Supreme Court precedents to argue that just because Bagla's co-accused are evading arrest and absconding does not mean it can be a ground for the court to reject his bail application. On January 9, Bagla, the owner of Exclusive Capital Limited (ECL), a non-banking financial company (NBFC), was arrested by the Economic Offences Wing of the Delhi Police. The case arises from a complaint filed by a Kolkata-based senior citizen couple, Suresh Kumar Agarwala and Kanta Agarwala, in October 2025 against the directors of ECL, including Bagla, Achal Kumar Jindal and Johnson Kallarachal Abraham. An FIR was filed against them under sections 318 (cheating), 316 (criminal breach of trust and 61 (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS). The couple has accused Bagla of misleading them into investing in ECL, as they later found themselves in the middle of a multi-crore fraud as the three directors siphoned off the money of all investors through the purchase of luxury cars, electronics and lending sham loans to their connected entities.

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