JAYANT BISWAS & ORS. vs UNION OF INDIA & ORS. - 2025 Supreme(Online)(SC) 6954

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2025 Supreme(Online)(SC) 6954

SUPREME COURT OF INDIA
JUSTICE SURYA KANT, JUSTICE JOYMALYA BAGCHI, JJ
JAYANT BISWAS & ORS. – Appellant
Versus
UNION OF INDIA & ORS. – Respondent

Advocates:
For the Appellants/Petitioners: Mr. Sukumar Pattjoshi, Sr. Adv., Mr. Parthiv Kumar Goswami, Sr. Adv., Mr. Rajeev Kumar Tiwari, Adv., Mr. Sujeet Kumar, Adv., Mr. Pc Patnaik, Adv., Mr. S P Sinha, Adv., Mr. Akshu Jain, Adv., Ms. Stuti Jain, Adv., Ms. Anita Juneja, Adv., Ms. Aditi Kumari, Adv., Mr. Amardeep Gaur, Adv., Mr. Satyam Srivastava, Adv., Mr. Ashish Pandey, AOR
For the Respondents: Ms. Aneesha Rastogi, Adv., Ms. Nidhi Jaswal, AOR, Mr. S.D. Sanjay, ASG, Ms. Parthvi Ahuja, Adv., Mr. Arvind Kumar Sharma, AOR, Mr. Yashraj Singh Bundela, Adv., Mr. Kamal Digpaul, Adv., Mr. Shaurya Rai, Adv.

Table of Content
1. petition for clubbing firs and interim directions. (Para 1 , 2)
2. court's directive on investor claims and cooperation. (Para 3)
3. future hearing set for compliance assessment. (Para 4 , 5)

O R D E R

1. The petitioners had approached this Court for clubbing of FIRs registered against them in more than one State. While we were not inclined to entertain the petition for the aforesaid relief, notice was issued for the purpose of alternative prayer that the petitioners are ready and willing to satisfy the claim of all genuine investors. Consequently, the arrest of the petitioners was stayed subject to their joining and fully cooperating with the investigation.

2. The petitioners have now filed IA No. 167040/2025 seeking interim directions to the effect that no coercive action shall be taken against them by the Enforcement Directorate for six months and within that period, they undertake to complete the settlement of remaining investor dues.

3. That being so, and also for the purpose of identifying as to how many investors are there who have been denied their dues by the petitioners, we direct:

(i) That, the Securities and Exchange Board of India (SEBI) and Directorate of

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2025 Supreme(Online)(SC) 6954

SUPREME COURT OF INDIAJUSTICE SURYA KANT, JUSTICE JOYMALYA BAGCHI, JJJAYANT BISWAS & ORS. – AppellantVersusUNION OF INDIA & ORS. – Respondent

SUPREME COURT OF INDIA
JUSTICE SURYA KANT, JUSTICE JOYMALYA BAGCHI, JJ
JAYANT BISWAS & ORS. – Appellant
Versus
UNION OF INDIA & ORS. – Respondent