Delhi Supreme Court cancels bail of Satinder Singh Bhasin
The Supreme Court (SC) on Thursday canceled the bail granted to businessman Satinder Singh Bhasin in a case related to an alleged multi-crore Grand Venice Mall scam in Greater Noida for violating the bail conditions imposed on him.
A Bench of Justice Sanjay Karol and Justice N Kotiswar Singh ordered Bhasin to surrender before the jail authorities within a week.
“It is directed that the passport of the petitioner is not to be released by the trial court without the leave of this court,” the Bench said.
Bhasin may apply for regular bail afresh after a period of 12 months, subject to fully complying with the orders passed in the insolvency proceedings, it said.
Insolvency proceedings were invoked against Bhasin’s companies under the Insolvency and Bankruptcy Code, 2016.The top court forfeited Rs 50 crore plus the accrued interest deposited by Bhasin as part of the bail condition.
“We direct that out of the aforementioned amount, Rs 5 crore plus proportionate accrued interest be transmitted to the National Legal Services Authority for its use in achieving its objectives. The remaining amount, along with proportionate accrued interest be transmitted to the IRP for the purposes of the IBC proceedings. The Registrar (Judicial) of this Court to ensure immediate compliance by the trial court concerned in the disbursal of the above amounts,” the Bench said.
The top court had on November 6, 2019, granted Bhasin, the director of Bhasin Infotech and Infrastructure Private Limited, bail in these cases subject to various conditions.
Around 46 FIRs were registered against several people in connection with the alleged scam in which investors claimed that they were duped by the accused when handing over the plot of land.
The FIRs were lodged in New Delhi and Uttar Pradesh at the instance of the allottees of units in the project against the petitioner, alleging non-delivery of their units, siphoning of their funds, and impropriety in the allotment of the land with the collusion of state officials.
