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2021 Supreme(Del) 355

SURESH KUMAR KAIT
Religare Finvest Ltd. – Appellant
Versus
State Of NCT of Delhi – Respondent


Advocate Appeared:
For the Appellant :Mr. Mohit Mathur, Senior Advocate with Mr. Sandeep D. Das, Mr. Siddharth Sharma, Mr. Harsh Gautam, Ms. Aishwarya Singh& Mr. Shashwat Sarin, Advocates
For the Respondent:Mr. G.M. Farooqui, Mr. Siddharth Aggarwal, Mr. Shri Singh, Mr. Abhishek Singh, Ms. Padma Venkataraman, Mr. Abhinav Sekhri & Ms. Arshiya Ghose, Advocates

JUDGMENT :

1. Petitioner, a non-banking financial company, is aggrieved by the order dated 03.03.2021 passed by the learned trial court, vide which respondent No.2-Shivender Mohan Singh, has been granted bail in FIR No. 50/2019, under Sections 409/420/120-B IPC, registered at Economic Offences Wing (EOW), New Delhi. The aforesaid order dated 03.03.2021 passed by the learned trial court is under challenge in this petition.

2. As per the final report dated 06.01.2020, the facts of the present case are that complainant-company-Religare Finvest Limited (RFL) is registered with the Reserve Bank of India (RBI) and is licensed to undertake the business of financial services as a non-deposit taking/lending Non-Banking Financial Company (NBFC). It operates as a small and medium enterprise (SME) financing focused NBFC and is in the business of extending SME working capital loans, secure SME business expansion, loans, short term trade finance and other loans to various entities. The complainant-company is classified as a ‘systematically important NBFC’ by the RBI and is a subsidiary of Religare Enterprises Limited (REL), which is a public company, listed on stock exchanges.

3. Pertinently, respo

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