The Supreme Court Wednesday granted interim bail to director of Grand Venice Mall in Greater Noida in a case pertaining to complaints by some allottees of shops and directed him to deposit Rs 50 crore as a precondition for the relief.
Satindar Singh Bhasin, who was arrested on charges of cheating and fraudulently selling properties to several people, had approached the apex court seeking interim relief.
He sought directions to the CBI to take over investigation of all the FIRs registered against the petitioner in UP and Delhi in connection with the "Grand Venice" project in the NCR, in particular a Mall and a Commercial Tower.
The plea also sought that the FIRs filed against Bhasin at different points of time in UP and Delhi be consolidated and the investigation be entrusted to one agency so that criminal action against him can proceed at one place.
A bench comprising Justices A M Khanwilkar and Dinesh Maheshwari directed Bhasin to deposit an aggregate amount of Rs 50 crore before the Registry as a precondition for the bail.
"We are inclined to grant interim relief claimed by petitioner to release him on bail directly by this Court in connection with all the FIRs mentioned in prayer clause (c) and other FIRs that have been or likely to be registered against petitioner in connection with the project at police station Kasna, Gautam Budh Nagar, Greater Noida, UP or any other Police Station within the territory of the State of Uttar Pradesh and, in the same manner, the FIRs registered at the Police Stations in the State of NCT of Delhi at Police Station Parliament Street and by Economic Offences Wing New Delhi or otherwise," the bench said.
It also directed him to furnish a personal bail bond of Rs 5 lakh with one surety in the like amount in connection with each FIR independently
"All further proceedings emanating from FIRs registered at police station parliament street, New Delhi or Economic Offence Wing, New Delhi or any other FIR already lodged or to be lodged hereafter in State of NCT of Delhi against the petitioner in connection with the project named 'Grand Venice', in particular, units in Mall and commercial tower thereof, shall remain stayed until further orders," the bench said.
The top court clarified that it was inclined to stay proceedings only arising from the FIRs registered at New Delhi because the allegations in the FIRs filed at Delhi are similar and 72 complainants are common at both the places.
"We may, however, permit the remaining informants/complainants in FIRs registered at New Delhi to register their complaint with the Police Station Kasna, Gautam Budh Nagar, Greater Noida, Uttar Pradesh if so advised, which can also be investigated by the SIT constituted by the State of Uttar Pradesh," the bench said.
The top court refused to transfer investigation of all the FIRs to the CBI, saying the "facts of the case do not warrant such a relief".
The court noted that out of 37 cases registered against the petitioner, he has been granted bail in 11 cases and eight cases are still under investigation.
It noted that five FIRs are registered in Delhi, three at Police Station Parliament Street and two with the Economic Offences Wing, New Delhi and in these cases, the petitioner has been granted bail in three cases by the concerned court.