Chandigarh, June 14 -- Amit Dewan, the former director (finance) of the Haryana Power Generation Corporation Limited (HPGCL) and an accused in two criminal cases involving a nearly Rs.600-crore IDFC First Bank fraud, has been granted bail by the Punjab and Haryana high court.

"The principal allegation of the prosecution is that the petitioner was a beneficiary of the conspiracy and had received illegal gratification. However, despite extensive investigation and custodial interrogation, no money trail leading to the petitioner has been brought to the notice of this court. No recovery has been effected from him and no bank account, property or asset has been identified as representing the alleged proceeds of crime," the bench of justice Sa...