New Delhi, May 12: A Delhi Court on Wednesday granted bail to Matrix Cellular CEO Gaurav Khanna, vice president Gaurav Suri and two others in connection with the alleged black marketing of oxygen concentrators.

The order was passed by Chief Metropolitan Magistrate, Saket court, Arun Kumar Garg and bail was subjected to a personal bond of Rs 50,000 and surety of like amount. The court granted bail in case registered after a stock of oxygen concentrators was seized by the Delhi Police from locations in Lodhi Colony and Mehrauli last week. All five accused were arrested by the Delhi Police last week soon after the raids. Gourav Khanna, CEO of Matrix Cellular Services Ltd, Arrested in Connection With Seizure of Oxygen Concentrators From Khan Chacha Restaurant

According to the prosecution, the accused had allegedly hatched a conspiracy to wrongfully make money by selling imported oxygen concentrators at an "exorbitant rate", amid the ongoing second wave of COVID-19 pandemic. The counsel for the accused had argued before the court that there was no black marketing of oxygen concentrators. The counsel, seeking bail for the accused, contended that in the absence of any government order, which capped the price, the sale price was fixed after considering the various costs incurred by Matrix Celluar, which included importing and selling the equipment.

The court noted that the government had itself not regulated the sale price and also pulled up the police for the arrest of private persons who were selling imported oxygen concentrators at an "exorbitant rate" to consumers. While reserving the bail order, the court had noted each business was based on a "cost-benefit analysis" and the state should be fair to them.

The counsel for the accused termed the investigation as a fishing and roving inquiry and pointed out that the oxygen concentrators were imported not only from China but Europe as well. On the aspect of mobile app, XFactor which was used for sale of the oxygen concentrators, the counsel added that it was there since 2016.

Matrix Cellular's plea seeking immediate release of seized oxygen concentrator stock is pending before the Delhi High Court.

(The above story first appeared on LatestLY on May 12, 2021 07:10 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).