Religare Finvest Case : 'Probe Can't Go Indefinitely', Supreme Court Wants Delhi Police To Complete Investigation Soon

The Supreme Court on Thursday orally asked the Delhi Police to complete its investigation soon against Shivinder Mohan Singh, former Fortis Healthcare promoter accused in a money laundering case.

"The probe cannot go indefinitely", the Chief Justice of India said.

A Bench comprising Chief Justice NV Ramana, Justice AS Bopanna and Justice Hima Kohli made these observations orally while hearing a special leave petition filed by Singh challenging Delhi High Court's order of cancelling his bail granted to him by trial Court.

While listing the matter on 2nd December, the Bench observed that the adjournment is being granted on request of Additional Solicitor General K.M. Nataraj appearing on behalf of respondent State of NCT of Delhi, to enable the Investigating Agency to complete the investigation, in the meanwhile.

The Bench had initially recorded that Mr Nataraj submits that he will complete the investigation till then. However on the ASG's request, the Bench agreed to edit the order and only record, that the matter is adjourned at ASG's request so as to enable the Investigating Agency to complete the investigation, in the meanwhile.

During the hearing, Senior Advocate Siddharth Luthra appeared on behalf of Singh.

Additional Solicitor General K.M. Nataraj appearing on behalf of Delhi Police's Economic Offence Wing submitted that initially notice was issued in the present matter, and they were directed to complete the investigation. He added that they will be able to finish the investigation maximum by end of January.

"What about the bail?" CJI asked

"Initial notice was only to that extent." ASG said.

"That's alright, last time you said, we'd given two options, one is we will give two months time and beyond that nothing or we will send the matter to High Court, let High Court adjudicate and take a call." CJI said.

CJI Ramana then gave Senior Counsel Luthra and ASG Nataraj the following two options:

• Court can give two months time from filing counter affidavit for completion of investigation: "From Whatever date you filed counter affidavit, You want four months we'll give 2 months time. You finish investigation whatever you want to finish it," CJI said.

• Court can send the matter to High Court and it will pass orders

The CJI then decided to grant the Investigation Agency time till the end of November.

"End of November we'll list a matter, you will submit a report, if still you need, we'll grant else we'll reject" the Bench said.

Senior Advocate R. Basant, appearing on behalf of Religare Finvest argued that the gravity of offence is very vital in this case.

He added that an amount of 2397 crores of public money was embezzled and that's an issue

The Bench however stated that it is not making a single comment on merits of the matter, and is considering bail.

What Was The Delhi High Court Order

Observing that the order dated March 3, 2021, passed by the Trial Court suffered from serious infirmities, resulting in miscarriage of justice, the Delhi High Court single bench of Justice Suresh Kumar Kait on June 14, 2021, had set aside the Trial Court's order granting bail.

The High Court had said that Shivinder Mohan Singh's continued detention in the FIR case was not only necessary to unearth the conspiracy hatched by him but also to "derive out/trace the siphoned money" which Singh had credited for his personal benefit.

"In the present case, the nature and gravity of the accusation against respondent No.2 is serious. The grant of bail in a case involving cheating, criminal breach of interest by an agent of such a large magnitude of money, affecting a very large number of people would also have an adverse impact not only on the progress of the case but also on the trust of the criminal justice system that people repose. Thus, the parameters set out by the Hon'ble Supreme Court for cancellation of bail in Kanwar Singh Meena (Supra), have been met out," the High Court had also observed.

Background

Shivinder Mohan Singh is accused of money laundering as per the offences laid down in sections 3 and 4 of the Prevention of Money Laundering Act. He, along with his brother Malvinder Singh, and Sunil Godhwani, are accused of committing financial fraud running into 3000 crores, which is dated to the period of their ownership of Religare Finvest.

Case Title: Dr. Shivinder Mohan Singh State Of Nct Of Delhi & Anr.

Click here to read/download the order