The man behind the multi-crore rent a car scam — Monish Sethi — was granted bail in a special court on July 22. Sethi was arrested on March 12 for duping hundreds of investors to the tune of over R4 crore. The special Maharashtra Protection of Interest of Depositors (in Financial Establishments Acts) court hearing his case has directed him to deposit a personal bond of R5 lakh.

Special judge G R Agarwal also warned Sethi against pressurising the prosecution witnesses, tampering with evidence, disposing of any property and leaving the country without the court's permission. The applicant has been accused of encouraging many persons to purchase cars by promising to rent them for R35,000 per month. He accepted down payments from the victims for the purchase of cars and used it up. He executed an agreement for tourist vehicles for all the investors under which he obtained their vehicle for five years on a rental basis. About 101 such cars were seized from the BMC's parking lots. About 205 people have given their statements while 339 persons have been cheated for a total of R4.50 crore.