The Patiala House Court reserved its order on the anticipatory bail plea of Chaitanyananda Saraswati on Friday, who has sought protection from arrest in a case related to alleged financial irregularities.
Additional Sessions Judge (ASJ) Dr Hardeep Kaur reserved the order, after hearing the submissions, saying that the order will be pronounced in the evening or tomorrow, Saturday.
Senior advocate Ajay Burman, counsel for Chaitanyananda Saraswati, submitted that an educational institution requires a trust to be formed.
He went outside Delhi on July 19. A complaint was filed, and an FIR was lodged immediately without any inquiry.
It is alleged that after getting a power of attorney, he formed a trust and transferred the property of Math in the name
of the trust.
The senior advocate stated that no property had been sold, everything remained intact, and the institute was still being managed by the trustees. The court, however, noted that an FIR had been filed and directed them to join the investigation.
Counsel for the accused submitted that he is ready to join, but the court should grant him interim protection.
The prosecution opposed the argument, stating that Rs 30 crore still needs to be recovered and that the accused withdrew Rs 60 lakh after going absconding. They added that the accused must be taken to 10 different locations to facilitate the recovery.
In response, the senior counsel for the accused questioned, “Which court says that someone accused of misappropriation must automatically be kept in custody?”
On the other hand, the Prosecutor stated that he will oppose the granting of interim protection. Recovery cannot be effected if interim protection is granted. He is to be taken to different states.
Senior Counsel for the accused said that there is nothing against the accused. He has no personal expenses, no income. Go to civil court, and you get it dissolved. Despite three FIRs having been lodged.
Counsel for the accused submitted that the statements are being issued in the media. Material is being placed in the media, and the court record is also going to the media.
The prosecution stated that E. Murli was appointed as CA and came to know of financial irregularities. This accused, along with others, misappropriated the funds. They fraudulently created another trust, namely the Shri Sharda Institute of Management Research Foundation Trust. All the income was going into this trust.
The prosecutor said that after the creation of trust, Rs 20 crore rent and other funds came into the trust. All the money was misappropriated. Rs 60 lakh has been withdrawn in the last month.
After the registration of the FIR, there was a withdrawal of Rs. 55 lakhs from Canara Bank through the account of the foundation trust, the prosecution said.
The prosecutor further submitted that there are allegations of subletting of the properties.
The accused had two PAN cards, two passports, and different bank accounts with different names, the police alleged.
It was further submitted that the accused sought one crore from the complainant to get a new course added. He sought one crore from the complainant to get a new course added.
Delhi police told the court that Chaitanyananda claimed to be a member of the PM Advisory Council and a UN Representative.
(With inputs from ANI)
