The Supreme Court on Tuesday allowed Bhushan Steel’s ex-promoter, Neeraj Singal, to remain out on interim bail granted by the Delhi High Court in a ₹2,500 crore case of fraud.
A Bench of Justices A.M. Khanwilkar and D.Y. Chandrachud said it was allowing only the interim bail to continue. The implementation of the rest of the High Court judgment regarding various aspects, including the Serious Fraud Investigation Office’s (SFIO) power to arrest and investigate, would be deliberated upon later.
The Delhi High Court had on August 29 granted bail to Mr. Singal, arrested by the SFIO for allegedly siphoning off ₹2,500 crore of public funds. The Supreme Court was hearing a plea to stay the Delhi High Court order in the case.