Delhi High Court Orders Remittance of Rs 65.9 Crore to Canada in Embezzlement Case

The Delhi High Court has instructed two Indian banks to remit Rs 65.9 crore to the Government of Canada from accounts associated with Sanjay Madan, a former Canadian bureaucrat of Indian origin.

Justice Manmeet P S Arora issued the directive following Madan's consent during a virtual appearance, allowing IndusInd Bank and RBL Bank to remit funds to the Canadian authorities after fulfilling regulatory compliance.

The court's intervention is part of Canada's efforts to recover funds linked to a CAD 47.4 million fraud, which Madan has confessed to, leading to a 10-year prison sentence. Banks are required to disclose account details, with the issue scheduled for a September hearing.

(With inputs from agencies.)