Shock to Sahara Group: Supreme Court overturns Delhi High Court's decision, denies interim relief to group companies

Posted on 26th May 2022 by rohit kumar

The Supreme Court on Thursday gave a major setback to the Sahara group. The court quashed the order of the Delhi High Court granting interim relief on the investigation of companies related to the group and staying the investigation. During the hearing of the matter, the bench allowed the petition filed by the SFIO challenging the Delhi High Court's order to stay the investigation of nine companies linked to the Sahara group.

 

The Supreme Court, during the hearing of the case on Thursday, said that the order of the Delhi High Court staying the SFIO probe against the Sahara Group companies was not correct. It was said in the order that by issuing this order, the High Court stopped the entire investigation of the matter. Such an order can be given only in exceptional cases. The bench said the matter would be expeditiously disposed of in the High Court two months after the summer vacations. In this case, it has been said on behalf of the Sahara Group that in this way SFIO cannot investigate the companies. As per the rules, the agency is not allowed to investigate such companies.

 

A bench of Justices DY Chandrachud and Bela M Trivedi in the Supreme Court allowed the SFIO's plea. Let us tell you that on May 17, the Supreme Court had decided to hear the matter. Solicitor General Tushar Mehta had told the apex court that there was some apprehension on the part of the petitioner (SFIO) about the recent stay of the lookout circular by another bench against Sahara Group chief Subrata Roy. Mehta said that the decision of the Delhi High Court is not correct. This should be stopped.

 

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