Mumbai: In a significant development in the high-profile Gain Bitcoin Ponzi scam investigation, businessman Raj Kundra, husband of Bollywood actress Shilpa Shetty, has been granted bail by a special court. Speaking to the media for the first time after securing his release, Kundra asserted his innocence with unwavering confidence.
‘I haven’t done anything wrong, so getting bail was inevitable,’ Kundra declared outside the courtroom. He attributed the outcome to divine intervention, adding, ‘God’s grace has ensured everything falls into place.’
Kundra didn’t hold back his frustration over the media’s portrayal of the case. ‘This matter has been blown out of proportion unnecessarily,’ he said. ‘I have complete faith in the Indian judicial system. Satyamev Jayate – truth always prevails.’
When questioned about appearing in court without a mask, a detail that had caught public attention, Kundra quipped, ‘That was a different time, with a lot going on in my mind. Now, all masks are off me; it’s time to unmask others.’
The case revolves around the Gain Bitcoin scam, where mastermind Amit Bhardwaj allegedly handed over 285 Bitcoins to Kundra for setting up a mining farm in Ukraine. The deal fell through, but the Enforcement Directorate (ED) claims Kundra still holds those Bitcoins, now valued at over ₹150 crore.
Kundra’s lawyer, Prashant Patil, contested the ED’s valuation in court, arguing it was arbitrary and illegal. ‘If the Bitcoins were received in July 2017, they should be valued at that time’s market rate of about ₹6.6 crore, not today’s inflated figure,’ Patil contended.
The special PMLA court in Mumbai accepted these arguments and granted bail, imposing conditions: Kundra must furnish a ₹1 lakh surety bond and seek court permission for foreign travel.
This bail marks a crucial turn in the investigation that has gripped headlines for months. As proceedings continue, Kundra’s release underscores the judiciary’s commitment to due process amid cryptocurrency controversies sweeping India. Observers await further revelations in this unfolding saga.