The Supreme Court has cancelled the bail granted to businessman Satinder Singh Bhasin after concluding that he failed to honour key conditions attached to his release. The Court directed him to surrender within a week, noting that repeated opportunities to comply had yielded little progress. ⚖️
Bhasin faces allegations tied to the “Grand Venice” project in the National Capital Region, including non-delivery of promised units, diversion of buyers’ funds, and irregularities in land allotment allegedly involving public officials. His bail was initially granted on the assurance that he would work toward settling claims of flat purchasers. The Court found that this commitment remained largely unfulfilled. 📄
A further concern arose when it emerged that ₹50 lakh—required as part of the bail conditions—was deposited from company funds rather than Bhasin’s personal account, contrary to the Court’s direction. This, the Bench observed, amounted to a breach of the bail terms. 💼
Taking a stringent view, the Court ordered forfeiture of the ₹50 crore deposited as a precondition for bail. Of this amount, ₹5 crore, along with proportionate accrued interest, is to be transferred to the National Legal Services Authority, while the remaining sum is to be used in ongoing insolvency proceedings concerning the company. The Registry was instructed to ensure prompt disbursal through the trial court. 💰
The Bench also imposed restrictions on Bhasin’s liberty to seek fresh relief. He may apply for regular bail only after twelve months, and that too subject to compliance with directions issued in the insolvency process. Additionally, his passport is not to be released without the Court’s permission. ✈️
The proceedings stemmed from a writ petition in which Bhasin sought consolidation of multiple FIRs and bail in relation to the project developed by his company, Bhasin Infotech and Infrastructure Private Limited. Investigations into the project led to around 63 FIRs across Delhi and Uttar Pradesh. The development reportedly included a mall and commercial tower, and purchasers alleged misappropriation of funds and failure to deliver possession. 🏗️
When bail was granted in 2019, the Court had required Bhasin to deposit ₹50 crore and make earnest efforts to settle claims of allottees. It had also warned that non-compliance could result in forfeiture of at least half the amount. In 2023, aggrieved purchasers sought cancellation of bail, alleging that despite entering some settlement agreements, Bhasin neither handed over units nor resolved grievances.
During hearings, issues such as alleged double allotments and ongoing insolvency proceedings surfaced. With continued non-compliance and breaches of conditions, the Court ultimately withdrew the protection of bail, bringing the matter to a decisive turn.
