Introduction:

Former BharatPe Managing Director, Ashneer Grover, and his wife, Madhuri Jain Grover, have approached the Delhi High Court challenging the issuance of look-out circulars (LOC) against them. The LOC follows an FIR by the Economic Offences Wing (EOW) of Delhi Police, alleging misappropriation of funds and causing significant losses to BharatPe. Justice Subramonium Prasad, while acknowledging the investigation’s early stage, adjourned the proceedings, emphasizing the pending plea seeking quashing of the FIR.

Arguments of Both Sides:

Grover and his wife contested the LOCs, citing full cooperation with the investigation. Their counsel argued for judicial intervention, emphasizing the Section 482 CrPC petition, which is in its initial stages. The court, however, observed the need for balance in matters involving LOCs, stating that intervening at this juncture, while the investigation is ongoing, might be premature. The court noted the petitioners’ claim that the LOC is unjustified, but deferred detailed consideration until May 08, indicating a cautious approach.

Court’s Judgement:

Justice Subramonium Prasad refrained from intervening immediately, considering the early stage of the investigation and the pending Section 482 CrPC petition. While acknowledging the claim of full cooperation, the court emphasized the need for balance and deferred the matter to mid-May. The court noted that the investigation is in progress and expressed a cautious stance, considering the complexity of the case. The amount in question, Rs. 7 crores, was highlighted, and the court deemed it premature to intervene substantially at this juncture.