NEW DELHI: Hours after the Delhi High Court granted interim bail to former Bhushan Steel promoter Neeraj Singhal, the Serious Fraud Investigation Office (SFIO) on Wednesday, approached the Supreme Court seeking a stay on the order.
In an urgent mentioning seeking a stay on the bail order, Additional Solicitor General Tushar Mehta told the bench headed by Chief Justice Dipak Misra that “We don’t want another Mallya.”
Senior advocate CA Sunderam, appearing for Singhal, said, “Can’t defeat celebrated right of liberty.”
The Additional Solicitor General said, “Yes, celebrated for duping Rs 2,500 crore.”The court agreed to hear the case on Thursday morning. Earlier in the day, Delhi High Court granted interim bail to former Bhushan Steel promoter Neeraj Singal, who was arrested for allegedly syphoning off over Rs 2,000 crore from bank loans using more than 80 associate companies.
A bench of Justices S Muralidhar and Vinod Goel granted interim bail to Singal on furnishing of a personal bond of `5 lakh with two sureties of Rs 2 lakh. It directed the accused not to leave the country without prior intimation to the court concerned. The bench also directed that Singal not influence the witnesses in the case in any way. The court passed the order on Singal’s plea challenging his arrest by the Serious Fraud Investigation Office (SFIO) on August 8 and continued custody in the matter.