New Delhi: The Supreme Court on Thursday (May 26, 2022) quashed the order of the Delhi High Court granting interim relief and staying the investigation in nine companies linked to the Sahara Group.
Allowing the plea of Serious Fraud Investigation Office (SFIO) challenging the Delhi High Court’s order staying the probe into nine companies linked to the Sahara Group, a bench of Justices DY Chandrachud and Bela M Trivedi told the Delhi High Court. Directed that he should expeditiously decide the petition after reconsideration. – Opening after summer vacations.
“The High Court was not right in staying the investigation at the interim stage. We allow the appeal and stay the order of the High Court,” the court said.
Solicitor General Tushar Mehta Representing SFIO in this matter. He told the court that this is the case of Sahara Company which is worth one lakh crores.
The Supreme Court agreed to hear last week a plea challenging the Delhi High Court order granting relief to the Sahara group.
The SFIO has challenged the Delhi High Court order staying the probe into nine companies linked to the Sahara group.
The Delhi High Court granted interim relief to the respondents Sahara Housing Investment Corporation Limited and others by staying the operation, implementation and execution of the inquiry orders dated October 31, 2018 and October 27, 2020, passed by the Central Government on December 13, 2021. The government and thereafter stayed all actions and proceedings initiated, including coercive proceedings and issue of lookout notices against the defendants.
The petitioner SFIO has filed a petition against the order of High Court of Delhi AND WHEREAS that the ground of urgency is that all action and proceedings taken under the orders of October 31, 2018 and October 27, 2020 passed by the Central Government have been stayed, which will seriously affect the ongoing investigation and proceedings. which requires immediate inventory. Subtitle petitions.
Therefore, the petitioner SFIO sought a stay of the Delhi HC’s order dated December 13, 2021.
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