New Delhi, March 24 -- A lower court in Maharashtra's Thane district on Monday granted bail to co-founders of cryptocurrency exchange CoinDCX-Sumit Gupta and Neeraj Khandelwal-who were wrongly arrested in an impersonation case.

The bail was granted after the court found that the people arrested weren't the actual perpetrators in the scam, three people directly aware of the case told Mint. Mint also saw a copy of the order released on Tuesday.

Ashish Brijkishore Singh, a 42-year-old insurance advisor, filed the first information report (FIR) against Gupta and Khandelwal on 16 March after he and two of his aides were duped by a group of six individuals of Rs.71.6 lakh. Mint has also seen a copy of the FIR.

According to the Thane court's ...