'Investigation At Nascent Stage': Delhi High Court Adjourns Pleas Of Ashneer Grover & His Wife Challenging Look-Out Circular

Former BharatPe Managing Director Ashneer Grover and his wife Madhuri Jain Grover on Thursday moved the Delhi High Court challenging the look-out circulars (LOC) issued against them.

The LOC was opened pursuant to an FIR registered against them by the Economic Offences Wing (EOW) of the Delhi Police for alleged misappropriation of funds and causing loss of about Rs. 80 crores to BharatPe.

Justice Subramonium Prasad did not intervene in the matter at this stage and adjourned the proceedings, observing that the investigation is at a nascent stage and the couple's plea seeking quashing of the FIR is pending adjudication.

“It is too hot in the day for this court to intervene. I am adjourning it. They will take some time to investigate. The investigation is at a nascent stage. Your Section 482 [of CrPC] petition is pending,” the court said.

The counsel appearing for Grover and his wife submitted that there has been full cooperation by them in the investigation.

However, the court said that where writ jurisdiction has to be exercised in the matters concerning LOC, a lot of things have to be balanced.

“Your Section 482 CrPC petition is just in the beginning stage. Same things have been stated there. Today, to say that the LOC is completely unjustified is not correct. It is too hot now. Let me have it in mid of May. The amount is only Rs. 7 crores,” the court added.

The matter will now be heard on May 08.

In June last year, a coordinate bench issued notice on the plea moved by Grover and his wife seeking quashing of the FIR registered by Delhi Police's Economic Offences Wing. However, the court had refused to stay the probe.

Read Here: Delhi High Court Refuses To Stay Investigation In FIR Against Ashneer Grover, His Wife For Alleged Misappropriation Of Funds In BharatPe

Title: Ashneer Grover v. Union of India & Ors. and other connected matter