New Delhi: The Supreme Court on Thursday reserved its order on a plea challenging the grant of interim bail to Bhushan Steel's erstwhile promoter Neeraj Singal by the Delhi High Court.
A bench of Justice A.M. Khanwilkar and Justice D.Y. Chandrachud reserved the order on the Serious Frauds Investigation Office's (SFIO) plea challenging the grant of the bail.
Singal is out of jail after the bail was granted on his habeas corpus petition. He contended that his arrest was illegal as the complaint was made under one law and his arrest was made under another.
The apex court reserved its order after Singal's lawyers opposed the suggestion from Additional Solicitor General Maninder Singh that the court may not interfere with the grant of the interim bail but stay the operation of the judgment which barred the SFIO from probing under the Prevention of Money Laundering Act (PMLA).
The high court by its interim order on Wednesday had ruled that since SFIO had registered the case against Singal under the Companies Act, 2013, it had no jurisdiction to investigate him under the PMLA.