New Delhi [India], September 26 : Delhi's Patiala House Court on Friday rejected the anticipatory bail plea of Chaitanyanand Saraswati. He had sought anticipatory bail in a case of alleged financial irregularities lodged against him.
Additional Sessions Judge (ASJ) Dr Hardeep Kaur dismissed the plea after hearing the submissions made by the counsel for the accused, counsel for the complainant and the Delhi police.
An FIR has been lodged in connection with an alleged multi-crore fraud, forgery, criminal breach of trust, and misappropriation of funds belonging to the prestigious Sringeri Sharada Peetham.
The prosecution and complainant alleged that Saraswati, in collusion with associates, unlawfully created a fraudulent trust, fabricated documents, including AICTE approvals, and diverted revenues meant for the Peetham and its educational institution, the Sri Sharada Institute of Indian Management Research.
Delhi police accused him of subletting land in Vasant Kunj, siphoning off approximately Rs 40 crore, and operating bank accounts under different names.
While rejecting the bail, the court noted that the accused had obtained two passports under different identities, altered PAN details, withdrawn Rs 50-55 lakh after registration of the FIR, and even used a forged registration number on a luxury car. He is also alleged to have been involved in other criminal cases.
Observing that custodial interrogation was essential to unearth the full chain of conspiracy, the court rejected the defence's contention that the matter was purely civil in nature. The judge cited Supreme Court precedent warning against granting anticipatory bail in corruption and fraud cases involving influential persons, noting the risk of evidence tampering and witness intimidation.
Calling the charges "serious in nature" and the stage of investigation "nascent," the court concluded that granting pre-arrest bail would seriously impede the probe. Accordingly, the bail plea of Chaitanyananda Saraswati was dismissed.
Ajay Burman, Senior Advocate, appeared for the accused, while Rushab Aggarwal & Kumar Vaibhaw appeared for the complainant, Shankaracharya Peetham.
Senior advocate Ajay Burman, counsel for Chaitanyanand Saraswati, submitted that an educational institution requires a trust to be formed.
He went outside Delhi on July 19. A complaint was filed, and immediately an FIR was lodged without an inquiry.
It is alleged that after getting a power of attorney, he formed a trust and transferred the property of math in the name of the trust.
Senior advocate submitted that not a single property has been sold, everything is the same, and the institute is being run by the trustees.
During the hearing, the court said that an FIR has been lodged. "You go and join the investigation," the court said.
Counsel for the accused submitted that he is ready to join and that he should be granted interim protection.
Prosecution opposed the contention and said that they have to recover Rs 30 crores. "He withdrew Rs. 60 lakh after he absconded. We have to take him to 10 places to affect the recovery," the prosecution said.
Senior Counsel for the accused said, "Which court is saying that if someone has committed misappropriation, put him in custody?"
On the other hand, the prosecutor said that he will oppose if interim protection is granted. "Recovery can't be effected if interim protection is granted. He is to be taken to different states," the prosecution said.
Senior counsel for the accused said that there is nothing against the accused. "He has no personal expenses, no income. Go to civil court, and you get it dissolved. Despite three FIRs having been lodged," senior counsel said.
Counsel for the accused submitted that the statements are being issued in the media. Material is being placed in the media, and the court record is also going into the media.
Prosecution said that when P A Murali became CEO, he came to know of financial irregularities. This accused, along with others, misappropriated the funds. They fraudulently created another trust, namely the Shri Sharda Institute of Management Research Foundation Trust. All the income was going into this trust.
The prosecutor said that after the creation of trust, Rs 20 crore rent and other funds came into the trust. All the money was misappropriated. Rs 60 lakh has been withdrawn in the last one month.
"After registration of FIR, there is a withdrawal of Rs 55 lakhs from the bank through the account of the foundation trust, the Prosecution said.
The prosecutor further submitted that there are allegations of subletting of the properties. The accused had 2 Pan cards, two passports, and different bank accounts with different names, police alleged.
It was further submitted that the accused sought one crore from the complainant to get a new course added. He sought one crore from the complainant to get a new course added
Delhi police told the court that Chaitanyanand claimed to be a member of the PM Advisory Council. Delhi police also told the court that Chaitanyanand Saraswati claimed to be a UN Representative.