The Punjab and Haryana High Court has dismissed the plea for regular bail filed by former Cabinet Minister Bikram Singh Majithia in the corruption case based on a SIT report alleging accumulation of over Rs 540 crore through illegal entities. Justice Tribhuvan Dahiya, at the same time, set a three-month deadline for the investigation’s completion.
“The court is conscious of the fact that he cannot be kept in custody for an indefinite period, as that would infringe his right to liberty. Also, the investigating agency owes a duty to the State to complete investigation of the case in every respect within a reasonable time. Therefore, it is directed that the investigation be completed within three months. Thereafter, the petitioner can seek his release on bail,” Justice Dahiya asserted.
The court observed that Majithia was accused of serious economic offences and the investigation of the case revealed “huge unaccounted money in his bank accounts, as also setting up of a large number of companies through which the financial transactions have been carried out surreptitiously for his benefit.”
Justice Dahiya observed it came to the investigating agency’s notice that money was routed through some foreign entities based in Singapore and Cyprus. The petitioner was “directly or indirectly in control of most of these entities with immediate family members, and appears to be the key beneficiary.”
The Bench observed that leads to track money trail were being followed. “Not only the role of these companies, but also that of petitioner’s close associates and financial experts is still under investigation.”