The Delhi High Court has rejected a plea placed by former Religare promoter Shivinder Mohan Singh, seeking to travel abroad and attend the graduation ceremonies of his two sons.

Upholding the LOC against him, the Bench of Justice Dharmesh Sharma observed that, "the magnitude of the investigation being conducted by the SFIO in public interest so as to safeguard the economic and national interest of the country which stands at a much higher pedestal. Indeed, attending the graduation ceremony of his son, which event is a once in a lifetime experience, is a momentous occasion in one's life and the sentiments of fatherly love for the son cannot be brushed aside, but the same has to be given way in order to further the paramount national interest and fundamentally safeguard the interests of the stakeholders who have been deprived of their hard earned investments in "REL" and other companies."

A petition was filed by an Indian businessman, formerly associated with Fortis Healthcare, Religare, and Ranbaxy Laboratories, under Section 482 of CrPC and Articles 226 and 227 of the Indian Constitution. The petitioner sought to overturn an order dated 05-06-2024 from the Additional Sessions Judge & Special Judge (Companies Act), which denied his request to suspend a Look Out Circular (LOC) and permit him to travel abroad from 14-06-2024 to 04-07-2024 and from 20-08-2024 to 10-09-2024.

The petition was filed on 07-06-2024, with notices issued to the Serious Fraud Investigation Office (SFIO) and the Bureau of Immigration, Ministry of Home Affairs.

The petitioner argued that despite the SFIO's investigation into Fortis Healthcare Limited, Religare Enterprises Limited, and other associated companies beginning on 17-02-2018, no complaint or final report had been filed against him. He had not been arrested, and his 2021 offer to surrender was opposed by the SFIO, as he was not considered an accused at that time. The petitioner claimed full cooperation with the investigation and sought to attend his sons' graduations in the UK on 01-07-2024 at Durham University and 02-09-2024 at University College London.

The petitioner’s counsel referenced various judicial orders from other courts that had allowed him to travel abroad in similar circumstances, highlighting that only the Special Judge had denied such permission. However, the SFIO argued that the petitioner was a flight risk, citing false claims in his affidavit about property ownership and significant investments abroad. The investigation revealed that over Rs. 1800 crores had been siphoned off from India to various offshore companies.

The High Court subsequently observed that, "having regard to the fact that prima facie it appears that the petitioner has sizeable assets and properties, directly or indirectly, outside India in foreign jurisdictions as discussed hereinabove and there is a strong inference that if liberty to go abroad is granted to him, he may not come back to India to face the investigation and trial, as and when it commences."

Cause Title: Dr Shivinder Mohan Singh vs Serious Fraud Investigation Office & Anr.

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Delhi High CourtJustice Dharmesh SharmaLook Out Circular

Ananya Soni