A Delhi court on Friday dismissed the anticipatory bail plea of Swami Chaitanyananda Saraswati in a multi-crore fraud case linked to large-scale misappropriation of funds belonging to the Sringeri Sharada Peetham..Additional Sessions Judge (ASJ) Hardeep Kaur of Patiala House Court noted that the investigation in the case is at a nascent stage and the police require Saraswait's custodial interrogation to establish the entire chain of fraud, cheating, conspiracy and misappropriation of funds. "Considering the seriousness of allegations and gravity of offence, this Court is not inclined to grant anticipatory bail to applicant/ accused. Therefore, present bail application stands dismissed," the Court ordered. .According to the prosecution and complainants, Saraswati and his associates allegedly created a fraudulent trust, forged documents including approvals from the All India Council for Technical Education (AICTE), and diverted revenues intended for the Peetham and its educational arm, the Sri Sharada Institute of Indian Management Research. Investigators claimed that the accused sublet land in Vasant Kunj and siphoned off approximately ₹40 crore, while also operating multiple bank accounts under different names. .Saraswati argued that the case was purely civil in nature and mere volume of allegations cannot by itself satisfy the essential ingredients of any criminal offence nor can it convert a purely civil dispute into criminal offences. "Present FIR is an abuse of the process of law and was registered by misusing police machinery and money power with ulterior motives of attempting to disturb the settled possession and administration of the aforesaid Trust which is being lawfully, uninterruptedly, peacefully, and continuously run/ managed/ operated from the aforesaid premises by applicant/ accused herein," his lawyers told the Court. .However, the Court rejected the arguments and denied him anticipatory bail. Senior Advocate Ajay Burman appeared for the accused while advocates Rushab Aggarwal, Kumar Vaibhaw and Riddhima Aggarwal appeared for complainant, Shankaracharya Peetham..[Read Order]
