New Delhi– The Supreme Court on Wednesday granted interim protection from arrest to Mohan Steel Ltd’s former Directors Mohan Krishna Kejriwal, Gopal Kejriwal, and Sri Krishna Kejriwal, in connection with a case linked to an alleged company fraud of Rs 7,500 crore.
A bench of Justices Sanjay Kishan Kaul and Justice M.M. Sundresh was hearing the anticipatory bail application in the case in which the Promoters and Directors of the Rotomac Group of Companies and Frost International Ltd are also facing trial.
After hearing the submissions of the petitioners’ counsel, the court issued notice, returnable within two weeks.
“In the meantime, the petitioners be not arrested but shall cooperate with the investigation,” the court said in the order.
The Serious Fraud Investigation Office (SFIO) led an investigation into the Rotomac group of companies and filed a complaint in May 2020.
During the course of the hearing, the petitioners were represented by senior advocates Mukul Rohatgi and Siddharth Dave, briefed by a team from Karanjawala & Co. led by Senior Partner Sandeep Kapur and comprising Tahira Karanjawala, Niharika Karanjawala, Apoorva Pandey, Arjun Sharma, G.G. Kashyap, Vardaan Wanchoo, Kajal, and Shreyas Maheshwari.
Rohatgi submitted before the bench that the statement of petitioner No.1 was recorded while the petitioner Nos.2 and 3 have not been called for recording of statement. He submitted that the petitioners run a steel mill and they owe no money to any bank.
The matter is to come up for further proceedings in 6 weeks. (IANS)