MUMBAI: In a setback to former Infrastructure Leasing & Financial Services (IL&FS) vice chairman Hari Sankaran, Bombay high court on Tuesday cancelled interim bail granted by sessions court to him in a case of alleged fraud and evergreening of the company.
A trial court granted him interim bail for eight weeks last month. Also last month, the HC had in a significant ruling quashed the criminal case initiated by Serious Fraud Investigation Office (SFIO) against Sankaran and several former auditors of IFIN. Armed with the quashing order, which though stayed by the HC, Sankaran had sought bail as his counsel Aabad Ponda argued that a stay would not operate on a lower court.
The SFIO, swiftly moved for cancellation of the interim relief before the HC. The agency through additional solicitor general Anil Singh and HS Venegaonkar argued that they would be appealing the quashing order before the SC and since he was not released yet from Taloja prison in Navi Mumbai, he ought not to.
The HC bench of Justice C V Bhadang, directed that the trial court finally decide his plea for bail within six weeks.
In a related development, yet another accused in the IL&FS case, former managing director of IL&FS R Karunakaran arrested last June by the Enforcement Directorate (ED) aged 65 sought bail on health grounds during the lockdown. His counsel Ponda said given his age and health condititions, he could be succeptible to catching the Covid-19 infection in Taloja prison where he is lodged.
Venegaonkar counsel for ED argued that there was no immediate health risk and that a report by the jail authorities showed that they were taking due care to prevent any covid outbreak in jail.
The HC granted Karunakaran no urgent interim relief and posted the matter after two weeks.
A trial court granted him interim bail for eight weeks last month. Also last month, the HC had in a significant ruling quashed the criminal case initiated by Serious Fraud Investigation Office (SFIO) against Sankaran and several former auditors of IFIN. Armed with the quashing order, which though stayed by the HC, Sankaran had sought bail as his counsel Aabad Ponda argued that a stay would not operate on a lower court.
The SFIO, swiftly moved for cancellation of the interim relief before the HC. The agency through additional solicitor general Anil Singh and HS Venegaonkar argued that they would be appealing the quashing order before the SC and since he was not released yet from Taloja prison in Navi Mumbai, he ought not to.
The HC bench of Justice C V Bhadang, directed that the trial court finally decide his plea for bail within six weeks.
In a related development, yet another accused in the IL&FS case, former managing director of IL&FS R Karunakaran arrested last June by the Enforcement Directorate (ED) aged 65 sought bail on health grounds during the lockdown. His counsel Ponda said given his age and health condititions, he could be succeptible to catching the Covid-19 infection in Taloja prison where he is lodged.
Venegaonkar counsel for ED argued that there was no immediate health risk and that a report by the jail authorities showed that they were taking due care to prevent any covid outbreak in jail.
The HC granted Karunakaran no urgent interim relief and posted the matter after two weeks.
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