A Thane court has granted bail to CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal, who had been arrested earlier in a ₹71.6 lakh cheating case.
The case began with a complaint alleging cheating and criminal breach of trust linked to a crypto-related investment. The complainant had said losses crossed ₹70 lakh, which led to police action.
In court, though, the position was a little different.
The complainant said the money had been returned. The full amount — ₹71.6 lakh — had already been recovered, the court was told. The complainant also said there was no remaining grievance in the matter.
That point came up during the bail hearing, and it appears to have weighed with the court.
While granting bail, the court noted that, based on the material available at this stage, a prima facie case was not made out against the accused.
CoinDCX has denied any wrongdoing. The company has said the episode may be linked to an impersonation scam, where unknown individuals used its name.
The order is limited to bail. The case itself has not been closed, and the investigation can continue.
For now, the sequence is straightforward: a complaint, an arrest, recovery of funds, and then bail.
What follows will depend on how the investigation proceeds from here.
