The Supreme Court has granted bail to a Former director of Garvit Innovative Promoters Limited (GIPL), the company accused in the ₹3,000-crore Bike Bot investment scam after noting that he had been in custody for nearly five years without trial.
A Bench of Justice Sanjay Kumar and Justice Alok Aradhe, in an order dated October 29, 2025, observed that although the alleged financial irregularities were of a serious magnitude, the appellant cannot be presumed guilty at this stage so as to continue his pre-trial custody. The Court took note that the FIR dates back to February 2019, and while charges have been framed, the trial has yet to begin.
Granting bail in connection with Case registered at Dadri Police Station, Gautam Buddha Nagar (U.P.), the Court directed Bhati to deposit ₹1.5 crore before the Chief Judicial Magistrate, Gautam Buddha Nagar, within eight weeks. The amount is to be kept in a fixed deposit with a nationalised bank to earn maximum interest.
The Bench also recorded that the Corporate Insolvency Resolution Process (CIRP) is already underway against GIPL and advised aggrieved investors to approach the adjudicating authority under the Insolvency and Bankruptcy Code (IBC), 2016, for relief.
While setting aside the Allahabad High Court’s order denying bail, the Supreme Court clarified that its observations were made solely for the purpose of granting bail and should not influence the trial proceedings.
Appearances:
Petitioner: Mr. Sidharth Luthra, Sr. Adv.; Mr. Ashish Pandey, AOR; Mr. Shubham Saxena, Adv.; Mr. Pawan Kasana, Adv.; Ms. Madhusruthi Neelakantan, Adv.; Mr. Saurabh Bhati, Adv.
Ms. Samriddhi Srivastava, Adv.; Mr. Piyush Merani, Adv.; Mr. Pushkar Dwivedi, Adv.; Ms. Pragya Aggarwal, Adv.; Mr. Anmol Goyal, Adv.; Mr. Akshit Chauhan, Adv.; Ms. Mili Tomar, Adv.; Mr. Anurag Pandey, Adv
Respondent: Mr. Ajay Aggarwal, Sr. A.A.G.; Dr. Vijendra Singh, AOR; Mr. Ajay Kumar Prajapati, Adv.; Mr. Aniket Tiwari, Adv.; Mr. Krishna Panday, Adv.; Mr. Divynk Panwar, Adv.
Ms. Nidhi Jaswal, AOR; Mr. Bibek Tripathi, Adv.; Mr. Y. Lokesh, Adv.; Mr. Arun Singh, Adv.
Mr. Sudhakar Tiwari, Adv.; Mr. Manoj Kumar, Adv.
