Serious Fraud Investigation Office v. Aditya Sarda & Others, 2025
Anticipatory bail denied to absconding accused in ₹1700 crore corporate fraud case for obstructing judicial process and violating Section 212(6) of the Companies Act.
Judgement Details
Court
Supreme Court of India
Date of Decision
11 April 2025
Judges
Justice Bela M. Trivedi ⦁ Justice P.B. Varale
Citation
Acts / Provisions
Section 13(1)(ia), Hindu Marriage Act, 1955
Section 25, Hindu Marriage Act, 1955
Facts of the Case
- Allegations of a ₹1700 crore financial fraud by Adarsh Credit Cooperative Society Ltd. and related entities.
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SFIO probe revealed illegal loans extended to 70 shell companies controlled by the accused.
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Chargesheets were filed; bailable and then non-bailable warrants were issued against the accused after they failed to appear.
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Despite rejection of anticipatory bail by the Special Court, the Punjab and Haryana High Court granted regular bail.
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SFIO challenged this grant before the Supreme Court via SLP.
Issues
- Can an absconding accused or one avoiding court summons/warrants be granted anticipatory bail?
- Did the High Court err in granting bail despite non-cooperation with investigation/trial?
- What is the effect of Section 212(6) of the Companies Act in bail proceedings?
Held
- Accused persons who abscond or interfere with the execution of warrants cannot be granted anticipatory bail, particularly in serious economic offences.
- High Court erred in granting bail without considering:
- The conduct of the accused,
- The gravity of the offence, and
- The mandatory provisions under Section 212(6).
- The conduct of the accused,
- The appeal was allowed, and the respondents were ordered to surrender within one week.
Analysis
- The Supreme Court reiterated the exceptional nature of anticipatory bail and laid down a conduct-based approach to its grant.
- It clarified that non-cooperation with the trial process disqualifies an accused from seeking such relief, especially in white-collar crimes.
- The ruling has reinforced the importance of accountability and cooperation in trial proceedings.
- It sends a strong signal against misuse of bail provisions by economic offenders who use delay tactics to avoid arrest.