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3mo ago

Delhi Court Closes All Cases Against Sandesara Brothers After Supreme Court‑Verified Payout

The court‑directed settlement channels funds to banks with any excess earmarked for a legal aid fund.

To be sure, while the Supreme Court, may have explicitly said the order in that case –– effectively signing off on a lower payment and the quashing of all cases –– would not set a precedent, it does open the door for similar requests from economic offenders, including Vijay Mallya, Nirav Modi, Mehul Choksi and others (ANI)
The brothers deposited ₹5,111 crore in compliance with the assurance given to the apex court. (Getty Images/iStockphoto)
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Overview

  • Delhi’s Rouse Avenue court recorded compliance with the Supreme Court’s directions and closed the proceedings, discharging all bail and surety bonds.
  • The brothers deposited about ₹5,111 crore as a one‑time settlement, which the Supreme Court registry verified before authorizing disbursal.
  • The Registrar has been directed to distribute ₹5,100 crore proportionately to lender banks after due verification, with any surplus and interest to the Supreme Court Legal Services Committee.
  • All linked probes stand quashed, including the 2017 CBI and ED cases, proceedings under the Fugitive Economic Offenders Act, SFIO inquiries, and Black Money and income tax matters, enabling withdrawal of travel restrictions.
  • The bench noted the original FIR pegged fraud at ₹5,383 crore and recorded prior deposits and NCLT recoveries that take total recoveries to roughly ₹9,800 crore, while clarifying the order should not be treated as a precedent.