New Delhi Sept 3(ILNS): The Supreme Court on Thursday has passed directions to release a man on bail who was allegedly in custody in connection with a ₹4000/- crore infamous “Bike Bot Scheme” scam, on a condition, to deposit 10 Crores in the registry as a pre-condition for grant of bail.
A three-judge bench comprising of Justice A.M. Khanwilkar, Justice Hrishikesh Roy, and Justice C.T. Ravikumar has noted that the Allahabad High Court had already directed release of the petitioner/Dinesh Pandey on bail after recording a clear finding that he was not named in the FIR nor is the Director, office bearer or manager of the (M/S Gravit Innovative Promoters Ltd) who has launched the Bike Bot Scheme that had defrauded lakhs of investors.
The Counsel for the petitioner (Dinesh Pandey) that he has not been released as the police kept coming up with new FIRs that had not been disclosed to him earlier.
The Uttar Pradesh police had earlier said that a Noida-registered company had in 2018 hatched a multi-level marketing scheme ‘Bike Bot’ and lured investors with the promise of doubled returns in a year.
While granting interim relief to Mr Pandey, Justice AM Khanwilkar said that the businessman will have to abide by the terms and conditions imposed upon him by the high court that granted him bail.
The bench noted, “We make it clear that this order will enure to the petitioner in FIRs/complaints referred to in the writ petition or any other FIRs/complaints concerning the subject project and also to other FIRs/complaints to be filed or filed, including for other provisions/enactments invoked against the petitioner on the basis of the said FIRs/complaints.”
“In case, the respondent(s)State(s) intend to proceed against the petitioner in connection with any other independent offence concerning the subject project, must take prior permission of this Court. We have directed the petitioner to deposit Rs. 10 crores, in the peculiar facts of the present case, as no claimant has approached this Court so far to set up a claim against the petitioner, as in the case of project M/s. Grand Venezia Commercial Towers in which the Satinder Singh Bhasin has been named,” it added in its order.
Satinder Singh Bhasin
The Court also has modified its earlier order for granting permission to travel abroad to another accused (Satinder Singh Bhasin) in the Bike Bot Scam Case. The Court in its previous order dated 26th August 2021 had allowed him to travel to New York on 7 September, 2021, in order to accompany his daughter who took admission in College, and to fulfil the formalities. He prayed before the Court through his senior counsel Shyam Divan to change the date from 7th September to 15th September, 2021. The Court has allowed the prayer and directed to list the matter on 1st October, 2021, along with connected matters.
The Court also considered the objection raised by Mr. Bajaj/respondent Counsel, that there is a probability of the petitioner of not returning. It held that the same argument was raised and considered earlier and had not found favor with the Court. Hence this objection was rejected.
Mr. Shyam Divan had submitted that the Court was pleased to release the passport of the petition on the condition that they file response to the IAs filed. He submitted that the replies had been filed and an undertaking before the Registrar had also been filed. He submitted that the petitioner was hopeful that the passport would be obtained today. Since it needs renewal also, the date of leaving the country has to be deferred.
The Court asked if there were any objections. Mr. Raghvendra Bajaj submitted that there are apprehensions that he would not come back.
On the last date of hearing, on 26th August 2021, the Supreme Court noted that the applicant sought the relief that his passport be released and a no objection for renewal be given.
This case relates to the Bike Bot Scam. The substantive relief claimed in this writ petition is to club all the FIRs pertaining to the Bike Bot Scheme scam, wherein the petitioner had been arrayed as an accused along with other accused, and to appoint Special Investigation Team (SIT) for conducting the investigation in connection with the stated FIRs. The petitioner was arrested earlier by the Economic Offence Wing for allegedly duping money of 100s of investors by fraudulently selling property to them.
There are 31 FIRs that have been filed in the State of U.P. and 1 FIR has been filed in the NCT of Delhi pertaining to the same scam and making a similar grievance.
On July 6, 2021, the Supreme Court considered the judgment of the High Court of Allahabad that the petitioner was not named in the FIR nor as a Director, Signatory, and shareholder of M/s Garvit Innovative Promoters Limited (GIPL). The allegation against the petitioner was that the investor’s amount of the Bike Bot Scheme scam launched by GIPL has been diverted to the petitioner’s company./ILNS/KR/SNG