Yagnesh Mohanlal Devani, Former Managing Director of Triton Petroleum Company Limited, has been granted bail of Ksh.5 million after pleading not guilty to 11 counts of fraud.
Devani, who will face the charges on behalf of Triton Petroleum, can provide a Ksh.20 million bond with an equal surety.
During a court session on Monday, Devani's attorney, Mwenda Bata, argued that the bail amount was excessively high. However, the court indicated that for the bail terms to be revised, Devani must prove his inability to pay the required amount.
The charges against Devani relate to alleged fraudulent activities between September 5 and December 8, 2008. As part of his bail conditions, Devani has been prohibited from leaving the country or contacting any prosecution witnesses.
The prosecution has opposed Devani’s bail, citing his status as a flight risk. Devani has been evading arrest since 2009 when a warrant was issued for his arrest in the United Kingdom. He contested his extradition from the UK through several legal channels.
He was deported to Kenya in January of this year due to the cooperative efforts between the Kenyan and UK governments.
The prosecution warned that allowing Devani to post bond could result in him seeking asylum in a country that lacks a bilateral agreement with Kenya, complicating the legal process.
Devani denies all charges against him and is currently being held at the Industrial Area Prison.
