Delhi HC refuses to allow Shivinder Mohan Singh to travel abroad

New Delhi, Jun 26 (PTI) The Delhi High Court on Wednesday refused to allow former Religare promoter Shivinder Mohan Singh to travel abroad by suspending a look-out circular issued against him in connection with an SFIO probe into the affairs of Religare Enterprises Limited (REL) and other related entities.

A vacation bench of Justice Dharmesh Sharma observed that prima facie, Singh has sizeable assets and properties, directly or indirectly, outside India and there is a strong inference that if allowed to go abroad, he may not come back to join the investigation and trial.

Singh had sought permission to travel to the United Kingdom from June 14 to July 4 and then again from August 20 to September 10 to attend his two sons' graduation ceremony.

Before the high court, he had assailed a trial court order rejecting his plea for the suspension of the LOC and permission to travel abroad during this period.

Stating that there was no illegality or perversity in the trial court's decision, the high court said the magnitude of the investigation being conducted by the Serious Fraud Investigation Office (SFIO) in public interest to safeguard the economic and national interest of the country was at a "much higher pedestal".

"Indeed, attending the graduation ceremony of his sons, which event is a once-in-a-lifetime experience, is a momentous occasion in one's life and the sentiments of fatherly love for the sons cannot be brushed aside, but the same has to be given way in order to further the paramount national interest and fundamentally safeguard the interests of the stakeholders who have been deprived of their hard-earned investments in REL and other companies," the court said.

"Unhesitatingly, this court finds that the reliefs claimed by the petitioner seeking permission to go abroad to attend the graduation ceremony of his two sons on the scheduled dates cannot be allowed. There are sufficient grounds to raise an inference that in case such liberty is granted to the petitioner, he may abuse the same and may not come back to India so as to scuttle the entire investigation and the ensuing process," it concluded.

The SFIO's lawyer argued that although the petitioner has justifiable emotional and personal reasons to attend the graduation ceremony of his sons, the paramount economic interest of the company cannot be brushed aside, particularly when the investigation carried out so far prima facie suggests that more than Rs 1,800 crore have been siphoned off out of India. PTI ADS RC