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Delhis Patiala House Court on Friday rejected the anticipatory bail plea of Chaitanyanand Saraswati. He had sought anticipatory bail in a case of alleged financial irregularities lodged against him.Additional Sessions Judge (ASJ) Dr. Hardeep Kaur dismissed the plea after hearing the submissions made by the counsel for the accused, the counsel for the complainant, and the Delhi Police. An FIR has been lodged in connection with an alleged multi-crore fraud, forgery, criminal breach of trust, and misappropriation of funds belonging to the prestigious Sringeri Sharada Peetham.The prosecution and complainant alleged that Saraswati, in collusion with associates, unlawfully created a fraudulent trust, fabricated documents, including AICTE approvals, and diverted revenues meant for the Peetham and its educational institution, the Sri Sharada Institute of Indian Management Research.Delhi Police accused him of subletting land in Vasant Kunj, siphoning off approximately Rs 40 crore, and operating bank accounts under different names.While rejecting the bail, the court noted that the accused had obtained two passports under different identities, altered PAN details, withdrawn Rs 50–55 lakh after registration of the FIR, and even used a forged registration number on a luxury car. He is also alleged to have been involved in other criminal cases.Observing that custodial interrogation was essential to unearth the full chain of conspiracy, the court rejected the defences contention that the matter was purely civil in nature. The judge cited Supreme Court precedent warning against granting anticipatory bail in corruption and fraud cases involving influential persons, noting the risk of evidence tampering and witness intimidation.Calling the charges serious in nature and the stage of investigation nascent, the court concluded that granting pre-arrest bail would seriously impede the probe. Accordingly, the bail plea of Chaitanyanand Saraswati was dismissed.Ajay Burman, Senior Advocate, appeared for the accused, while Rushab Aggarwal and Kumar Vaibhaw appeared for the complainant, Shankaracharya Peetham.Senior advocate Ajay Burman, counsel for Chaitanyanand Saraswati, submitted that an educational institution requires a trust to be formed. He went outside Delhi on July 19. A complaint was filed, and immediately an FIR was lodged without an inquiry.It is alleged that after getting a power of attorney, he formed a trust and transferred the property of the math in the name of the trust. Senior counsel submitted that not a single property had been sold, everything was the same, and the institute was being run by the trustees.During the hearing, the court said that an FIR had been lodged. You go and join the investigation, the court said. Counsel for the accused submitted that he was ready to join the probe and should be granted interim protection.The prosecution opposed the contention and said that they had to recover Rs 30 crore. He withdrew Rs 60 lakh after he absconded. We have to take him to 10 places to effect the recovery, the prosecution said.Senior counsel for the accused said, Which court is saying that if someone has committed misappropriation, put him in custody?On the other hand, the prosecutor said he would oppose interim protection. Recovery cant be affected if interim protection is granted. He is to be taken to different states, the prosecution said.Senior counsel for the accused said there was nothing against the accused. He has no personal expenses, no income. Go to civil court, and you get it dissolved. Despite three FIRs having been lodged, senior counsel said.Counsel for the accused submitted that statements were being issued in the media. Material was being placed in the media, and the court record was also going into the media.The prosecution said that when P. A. Murali became CEO, he came to know of financial irregularities. This accused, along with others, misappropriated the funds. They fraudulently created another trust, namely the Shri Sharda Institute of Management Research Foundation Trust. All the income was going into this trust.The prosecutor said that after the creation of the trust, Rs 20 crore rent and other funds came into the trust. All the money was misappropriated. Rs 60 lakh had been withdrawn in the last one month.After registration of the FIR, there was a withdrawal of Rs 55 lakh from the bank through the account of the foundation trust, the prosecution said.The prosecutor further submitted that there were allegations of subletting of the properties. The accused had two PAN cards, two passports, and different bank accounts with different names, police alleged. It was further submitted that the accused sought Rs 1 crore from the complainant to get a new course added.Delhi Police told the court that Chaitanyanand claimed to be a member of the PM Advisory Council. Delhi Police also told the court that Chaitanyanand Saraswati claimed to be a UN representative.
