Neeraj Singhal to remain out on interim bail
Supreme Court transfers case to itself
New Delhi: The Supreme Court on Tuesday said Neeraj Singhal, former promoter of Bhushan Steel, will remain out on interim bail granted by the Delhi High Court in a Rs 2,500-crore fraud case.
A bench comprising Justices A M Khanwilkar and D Y Chandrachud, however, stayed the operation of the Delhi High Court judgement and transferred to itself the plea Singhal had filed in the high court for adjudication. The bench said it was only allowing the interim bail to continue, and the operation of the rest of the judgement regarding various aspects, including the Serious Fraud Investigation Office’s power to arrest and investigate, will be deliberated later.
The Delhi High Court had on August 29 granted bail to Singhal, arrested by the SFIO for allegedly siphoning off Rs 2,500 crore of public funds. The apex court was hearing an SFIO plea to stay the Delhi High Court order in the case.