2026 (7) TMI 1676

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..... Misha Rohatgi, AOR, Mr. Nakul Mohta, Adv., Mr. Amulya Upadhyay, Adv., Ms. Vismita Diwan, Adv., Mr. Siddharth Singh Rawat, Adv. For the Respondent(s): Mr. Suryaprakash V. Raju, A.S.G., Mr. Annam Venkatesh, Adv., Mr. Arkaj Kumar, Adv., Ms. Saricia Raju, Adv., Ms. Shailja Singh, Adv., Mr. Arvind Kumar Sharma, AOR. ORDER 1. The petitioners are incarcerated in connection with ML Case No. 10 ....

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....against the petitioners are of siphoning and diversion of investors' funds collected through the Prayag Group investment schemes, which came under investigation pursuant to the Saradha Chit Fund Scam in the State of West Bengal. 4. It is not in dispute that several FIRs were registered with the local police in relation to the chit fund cases. Vide order dated 9th May, 2014, this Court transferr....

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.... have remained incarcerated since then. A prosecution complaint arising out of the ECIR, citing 29 witnesses and numerous documents running into several thousand pages was filed on 25th January, 2025. However, till date, charges have not been framed. 7. Shri Aggarwal, learned senior counsel appearing for the petitioners, submits that the petitioners have undergone incarceration for approximatel....

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....ent ECIR relate to transactions which are almost 8 to 10 years old. 9. In this background and considering the fact that the petitioners have already suffered significant incarceration in connection with the predicate offences, which took place way back in the year 2013-2014 and further considering the fact that there is no likelihood of an early conclusion of the trial in the present case, we a....