Anil Deshmukh granted bail by Bombay HC after 13 months in corruption case

The Bombay High Court granted conditional bail of Rs 1,00,000 to former Maharashtra Minister Anil Deshmukh after he spent nearly 13 months in jail custody in alleged corruption cases, here on Monday.

A senior Nationalist Congress Party (NCP) Leader, Deshmukh, 74, was nabbed early on November 2, 2021 in alleged corruption and money-laundering cases being probed by the Central Bureau of Investigations and later the Enforcement Directorate.

Justice M.S. Karnik, who had reserved his order on December 8, pronounced the verdict.

Last month, the high court had granted him bail in the ED money-laundering case, but the CBI Special Court had rejected his bail plea, which Deshmukh challenged in the high court.

US consumer inflation data for November, scheduled to be released on Tuesday, would also be keenly watched. The data comes on the heels of print showing producer prices in the US rose at a faster-than-expected pace, triggering worries for a prolonged Fed rate hike cycle.

Investors will also focus on rate decisions by the US Federal Reserve and the European Central Bank, due later this week.

The blue-chip indexes slid on Friday and logged their worst week in over two months as IT stocks tumbled after HCL Technologies (HCLT.NS) warned of a potential slowdown in client spending in U.S. markets.

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