New
Delhi:
The Supreme Court Thursday directed that a businessman, who is in custody in
connection with the alleged ? 3,500 crore Bike Bot scam, be released on bail
and asked him to deposit ? 10 crore as a “pre-condition” for the relief.
The
top court noted that the Allahabad High Court had in June this year directed
the release of businessman Dinesh Pandey on bail after recording a clear
finding that he was not named in the FIR and that he wasn't a director, office
bearer or manager of the private firm which had launched the Bike Bot scheme
which allegedly defrauded lakhs.
Dinesh
Pandey's counsel said 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, a bench headed by 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.
“Accordingly,
for the reasons mentioned in the order dated July 6, 2021 of this court... we
direct the respondents (state of Uttar Pradesh and Delhi) to release the
petitioner on bail forthwith on the terms and conditions specified in the bail
order passed by the High Court of Judicature at Allahabad in respect of the
concerned cases and for that matter even future cases to be registered, which
shall be done only after taking prior permission of this court,” said the
bench, also comprising Justice Hrishikesh Roy and Justice CT Ravikumar.
“The
petitioner shall abide by the terms and conditions stated by the high court. In
addition, he shall deposit a sum of ? 10 crores in the registry of this court
which may remain invested in a Fixed Deposit Receipt with a nationalized bank,
until further orders. That will be pre-condition for grant of bail,” the bench
said in its order.
During
the arguments, Mr. Pandey's counsel told the bench that his client was arrested
in November 2020 and the high court had granted him bail this June.
The
state has not challenged the high court order granting bail, the counsel said,
adding that the police came up with new FIRs that were not disclosed to his
client earlier.
The
lawyer appearing for the state said there are several investors who have been
defrauded by the scheme and there is a series of complaints.
“You
should have advised the state to challenge the high court order,” the bench
observed.
Mr.
Pandey's lawyer said his client has nothing to do with the Bike Bot scheme and
the allegations that money collected from the investors were diverted into the
account of his company.
“Even
in the present case, it is noticed that multiple FIRs/complaints have been
filed and in respect of which the petitioner is being taken into custody in
succession,” the bench said.
It
said in case the state intends to proceed against the petitioner in connection
with any other independent offence concerning the subject project, it must take
prior permission of the top court.
The
bench said the petitioner will have to fully cooperate with further investigation,
as and when called upon by the investigating officer.
The
bench said that it will hear the applications filed in the matter on October 1.
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