TaxTMI 
TaxTMI 
2024 (9) TMI 467
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....ingh, Mr. Arjun Aggarwal, Mr. Akshay Kumar Singh, Ms. Parul Chutani, Mr. Lakshay Singh & Mr. A.S. Muhania, Advocates with Mr. Avanish Saini, Asstt. Director/IO. JUDGMENT CRL.M.A. 23673/2024 (under Section 482 of Code of Criminal Procedure, 1973 filed by the petitioner for interim stay in Crl.M.C. No. 4181/2024 and to permit the applicant to travel abroad from 16.08.2024 to 05.09.2024) 1. The Application under Section 482 of the Code of Criminal Procedure (hereinafter referred to as 'Cr.PC, 1976') has been filed on behalf of the petitioner seeking interim stay of the LOC and for permission to travel abroad from 16.08.2024 to 05.09.2024. 2. The petitioner has filed the present Application for seeking permission to travel to New York and....
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....eport has been filed on behalf of the respondent. Let the same be taken on record. It is submitted in the Status Report that the permission to travel abroad has been denied vide detailed Order dated 12.02.2024, passed by the learned ASJ-03/Special Judge, Dwarka Court and the present Application is without merit. The multiple Petitions and Applications seeking similar relief i.e. permission to travel abroad, filed before the Special Court as well as this Court, have been disallowed time and again. 6. The petitioner, is Director in eight Group Companies. The material placed on record explained the flow of funds and the close connection that was shared between Sahara and the eight corporate entities in which the applicant was a Director. Even....
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....ed that the petitioner is a close associate of late Subrata Sahara Roy and has been associated with Sahara Group since 1993 and was associated with Sahara Financial Corporation Limited as Executive Director Worker. As per the Ministry of Corporate Affairs, the petitioner is Director in nine companies, out of which eight companies have relationship with Sahara Group wherein the funds have been diverted/siphoned from/to the Sahara Group, during the period of alleged fraud. The Incorporation documents of some of the Foreign Companies such as Aamby Valley (U.K.) Limited, Sahara Grovenor House Hospitality Limited and Reeves Lease Limited also reflect that the present applicant is one of its Director. The petitioner has been asked to provide docu....
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....t. There is no question of the petitioner being non-cooperative when he has not been asked to join the investigation, for the last two years. The petitioner has his mother and the family are permanently residing in India and his business interests are also in India. There is no chance of him fleeing the country or of not honouring the terms of permission to travel abroad. 11. Learned counsel for the petitioner, has also placed reliance on P. Chidambaram vs. CBI, (2020) 4 SCC (Crl) 528 wherein it has been observed that the 'flight risk' of economic offenders should be looked at as a national phenomenon and be dealt with in that manner. Merely because certain other offenders have flown out of the country, cannot be taken as a straitjacket fo....