Interim bail granted with strict conditions in multi-FIR case, investigations split between states

The court granted interim bail to the petitioner for multiple FIRs, subject to stringent conditions including a deposit of Rs. 50 crores, surrendering of passport, and reporting to the SIT. Proceedings were stayed for FIRs in Delhi, while investigations in Uttar Pradesh by the SIT continued. The court denied the transfer of investigation to the CBI but deferred a decision on consolidating FIRs and entrusting investigations to one agency, highlighting common allegations in the FIRs related to the "Grand Venice" project. Further hearings were scheduled for final decisions.

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Issues Involved:
1. Grant of bail for multiple FIRs.
2. Stay of proceedings emanating from the concerned FIRs.
3. Transfer of investigation to CBI.
4. Consolidation of FIRs and entrusting the investigation to one agency.

Detailed Analysis:

Grant of Bail for Multiple FIRs:
The petitioner sought bail for various FIRs registered at Police Station Kasna, Gautam Budh Nagar, Greater Noida, Uttar Pradesh, and other locations. The court noted that the petitioner’s bail applications for 17 FIRs had already been rejected by the concerned court. Despite this, the petitioner urged the Supreme Court to grant bail in all FIRs collectively, referencing a similar situation handled by another Bench in Surinder Singh Alagh vs. Union of India & Ors. The court granted interim relief by releasing the petitioner on bail with stringent conditions, including the deposit of Rs. 50 crores, surrendering of passport, and regular reporting to the SIT.

Stay of Proceedings Emanating from the Concerned FIRs:
The petitioner sought a stay on proceedings from the FIRs. The court agreed to stay proceedings for FIRs registered in the State of NCT of Delhi but refused to stay proceedings in Uttar Pradesh, as the investigations there were being conducted by a Special Investigation Team (SIT). The court allowed complainants in Delhi to file their complaints in Uttar Pradesh, where the SIT would handle them.

Transfer of Investigation to CBI:
The petitioner invoked Article 32 of the Constitution, alleging violation of fundamental rights and sought a mandamus directing the CBI to take over the investigation of all FIRs. The court found that the facts did not warrant such a relief and denied the transfer of investigation to the CBI. However, the court acknowledged the need for deeper consideration of consolidating the FIRs under one agency.

Consolidation of FIRs and Entrusting the Investigation to One Agency:
The petitioner alternatively requested the consolidation of all FIRs and entrusting the investigation to one agency. The court found that the first part of this relief did not merit consideration but noted that the second part, involving the transfer of FIRs to one agency in one state, was debatable. The court highlighted that similar allegations were made in the FIRs, primarily concerning non-delivery of possession and financial mismanagement related to the "Grand Venice" project.

Conclusion:
The court granted interim bail to the petitioner under strict conditions and stayed proceedings for FIRs in Delhi, while allowing the SIT in Uttar Pradesh to continue its investigation. The court deferred the final decision on the consolidation of FIRs and the transfer of investigations to one agency, setting a future date for further hearing.

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