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2022 Supreme(SC) 115

L. NAGESWARA RAO, B. R. GAVAI
Serious Fraud Investigation Office – Appellant
Versus
Rahul Modi – Respondent


Advocates appeared:
For the Petitioner(s): Mr. Aman Lekhi, Ld. ASG Mr. Zoheb Hossain, Adv. Mr. Kanu Agrawal, Adv. Mr. Udai Khanna, Adv. Mr. Ritwiz Rishabh, Adv. Mr. Gurmeet Singh Makker, AOR Mr. Arvind Kumar Sharma, AOR
For the Respondent(s): Mr. Ranjit Kumar Sharma, AOR Dr. Monika Gusain, AOR Mr. E. C. Agrawala, AOR

JUDGMENT :

L. NAGESWARA RAO, J.

Leave granted.

1. The order dated 31.05.2019 passed by the High Court of Punjab and Haryana granting bail to Respondent Nos. 1 and 2 is assailed in this Appeal by the Serious Fraud Investigation Office (“SFIO”).

2. An investigation was directed to be conducted into the affairs of Adarsh Group of Companies and LLPs by the Central Government in exercise of the powers conferred under Section 212(1)(c) of the Companies Act, 2013 and sub-sections (2) and (3)(c)(i) of Section 43 of the Limited Liability Partnership Act, 2008. Inspectors were appointed by the Director, SFIO to carry out the investigation. Respondent Nos. 1 and 2 were arrested pursuant to the approval granted by the Director, SFIO on 10.12.2018. On 20.12.2018, the High Court of Delhi directed interim release of Respondent Nos. 1 and 2 in Writ Petition (Criminal) Nos. 3842 of 2018 and 3843 of 2018. The order of the High Court was set aside by this Court on 27.03.2019, following which Respondent Nos. 1 and 2 surrendered on 01.04.2019. Respondent Nos. 1 and 2 were remanded to 14 days’ judicial custody on 05.04.2019. On account of continuation of the investigation, the Special Court, Gurugram extend

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