Delhi High Court Grants Bail to Accused in SBI Funds Siphoning Case, Cites CBI's Piecemeal Chargesheet as Violation of Article 21
In a significant ruling, the Delhi High Court granted bail to a businessman accused in a corruption case involving the siphoning of funds from the State Bank of India (SBI). The court criticized the Central Bureau of Investigation (CBI) for filing an incomplete chargesheet, which it deemed as a violation of Article 21 of the Constitution.
The case revolves around allegations that the accused, along with public officials, diverted funds borrowed by a company called M/s Arise India Ltd from a consortium of banks led by SBI. The company's account was later declared a non-performing asset with an outstanding amount of ₹512.67 crore.
The CBI had registered an FIR on November 19, 2020, charging the accused with offenses including criminal conspiracy, cheating, forgery, and corruption. The applicant was arrested on November 14, 2022. However, the court noted that the chargesheet filed by the CBI was incomplete and failed to address all the offenses alleged in the FIR.
The court highlighted that the chargesheet acknowledged pending investigations under the Prevention of Corruption Act but remained silent on further investigation into another offense under the Indian Penal Code. It further noted that the CBI had filed a supplementary chargesheet after the competent authority rejected the grant of approval for additional investigation.
Emphasizing the violation of the accused's rights, the court declared that the practice of filing piecemeal chargesheets by the CBI undermined the principle of default bail and infringed upon the constitutional protection enshrined in Article 21.
The judgment serves as a reminder of the importance of adhering to due process and comprehensive investigations in maintaining the sanctity of the legal system.
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TAGS: Delhi High Court bail accused SBI funds siphoning case CBI chargesheet piecemeal violation Article 21 corruption public officials M/s Arise India Ltd diversion of funds non-performing asset FIR criminal conspiracy cheating forgery corruption charges Prevention of Corruption Act Indian Penal Code supplementary chargesheet default bail due process legal system.
