Breaking: Fino Payments Bank MD and CEO Rishi Gupta granted bail
26 Mar 2026, 05:47 PMThe development comes three days after the Telangana High Court dismissed a writ petition filed by Gupta, challenging his arrest.
Arti Singh
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Fino Payments Bank managing director and CEO Rishi Gupta has been granted bail by sessions court in Hyderabad.
Special Judge for Trial of Economic Offences Cases Hyderabad has granted bail to Gupta on "execution of personal bond of Rs 10 lakhs with two sureties for like sum to the satisfaction of this Court."
Further, Gupta has been "directed to deposit his passport before this Court and to take prior permission from the Court before leaving India."
"The petitioner is directed to appear before the concerned authorities on every first and third Monday of every month till further orders," the court order stated.
The development comes three days after the Telangana High Court dismissed a writ petition filed by Gupta, who had sought to challenge his arrest in an alleged tax evasion case.
Gupta was arrested on February 27, 2026, by the Directorate General of GST Intelligence (DGGI). On March 2, he moved the High Court, arguing that his arrest was unlawful and in violation of constitutional protections.
After multiple adjournments, a division bench comprising Chief Justice Aparesh Kumar Singh and Justice G.M. Mohiuddin, on March 23, dismissed the petition.
In his plea, Gupta had sought a writ of mandamus declaring the action of the authorities as "arbitrary, illegal, highhanded and violative of Articles 14, 19, 21, and 222 of the Constitution of India."
He also challenged the remand order dated March 1, 2026, passed by the Special Judge for Trial of Economic Offences in Hyderabad, calling it illegal and seeking consequential release on bail.
The case pertains to an alleged GST evasion investigation being conducted by the DGGI.
Gupta was arrested by the DGGI in late February under provisions of the GST law. Following his arrest, the bank appointed CFO Ketan Merchant as interim CEO to oversee day-to-day operations.
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