Overview
- India’s top court set aside the 2019 bail for Satinder Singh Bhasin and told him to surrender to jail authorities within a week.
- Justices Sanjay Karol and N. K. Singh also ordered that the trial court must not release his passport without the Supreme Court’s permission.
- The bench found the Rs 50 crore bail deposit came from Bhasin Infotech’s funds without a shareholder vote under Section 185 of the Companies Act, calling it misuse of company money.
- The court forfeited the full deposit with interest, directing Rs 5 crore to the National Legal Services Authority and the balance to the court‑appointed insolvency manager for proceedings under India’s bankruptcy law.
- Bhasin may apply for fresh bail only after 12 months if he follows all insolvency orders, as cases tied to about 46 complaints by project buyers continue in Delhi and Uttar Pradesh.