Supreme Court Closes Sandesara Case After ₹5,100 Crore Deposit, Orders Quashing of All Investigations
Top court disposes of long standing Sandesara matter, directs disbursal of funds to lender banks and ends criminal, enforcement probes.
New Delhi, Dec 23 : In a significant development, the Supreme Court of India has formally closed the long-running Sandesara case after full compliance by the petitioners with its earlier orders, including the deposit of Rs 5,100 crore. The court also ordered the quashing of all investigations and proceedings related to the matter.
Senior advocates Mukul Rohatgi and Hemant Shah, representing the Sandesara brothers, confirmed that the November 19 directive had been fully implemented, including an additional deposit as a precautionary measure. The total deposited amount stood at Rs 51,11,43,36,390.40, verified by the Court’s office report dated December 16 and uncontested by the Additional Solicitor General.
The Bench of Justices J.K. Maheshwari and Vijay Bishnoi instructed the Registrar (Judicial Administration) to transfer Rs 5,100 crore to the consortium of lender banks proportionately after due verification. According to the petitioners, recoveries so far have reached approximately Rs 9,800 crore, nearly double the original FIR amount of Rs 5,383 crore.
With the consent of all parties, the Supreme Court ordered a complete closure of criminal and enforcement action, quashing all FIRs registered by the CBI, ED proceedings under the PMLA, cases under the Fugitive Economic Offenders Act, SFIO inquiries, and matters concerning black money and income tax. The Court emphasized that a “quietus” had been achieved, directing investigating agencies to formally communicate the closure of proceedings at all levels, including to airport authorities via the Ministry of External Affairs.
The excess funds deposited with the Bank of Maharashtra’s Supreme Court branch, along with accrued interest, will now be transferred to the Supreme Court Legal Services Committee to be used for benevolent purposes at its discretion.
The litigation arose from multiple writ petitions filed by the Sandesara brothers seeking quashing of FIRs, ECIRs, prosecution complaints, attachments, and coercive proceedings under statutes including the PMLA, Fugitive Economic Offenders Act, Companies Act, and Black Money Act. With the deposit of funds and closure of investigations, the Supreme Court has effectively brought an end to one of India’s high-profile financial and criminal disputes.
