The Supreme Court has granted bail to the Siemens former chief govt officer (CEO) and a venture head in the Andhra Pradesh State Skill Development Corporation (APSSDC), G.V.S. Bhaskar Prasad.
The Apex court docket, in its order dated Monday, November 6, 2023 said, “Considering the facts peculiar to the appellant, the interim order dated 22nd August, 2023, is made absolute subject to the same terms and conditions. The Appeal is, accordingly, allowed.”
The Andhra Pradesh Crime Investigation Department (CID) had earlier arrested Mr Bhaskar Prasad in reference to the Skill Development case. The CID in it’s report said that he had escalated the estimated value of the Skill Development venture as one of many administrators of Siemens.
The ACB court docket rejected his remand because the Anti-Corruption Act provisions don’t apply for an worker of a personal organisation. Subsequently, the CID challenged the ACB court docket order earlier than the Andhra Pradesh High Court which agreed with the arguments of the CID and pronounced the order in its favour and likewise rejected the bail petition of Mr. Bhaskar Prasad.
Following this, Mr. Bhaskar Prasad moved the Supreme Court which granted him bail on the grounds that every one the accused in this case already have bail and are cooperating with the investigating companies.
