Supreme Court NEW DELHI: Bringing a long-running financial and criminal dispute to an end, the Supreme Court of India has disposed of the Sandesara matter after recording complete compliance with its earlier directions on deposit of funds and settlement with lender banks.The petitioners informed the Court that they had complied with the November 19 order by depositing a total sum of Rs 51,11,43,36,390.40, which also included an additional amount deposited as a measure of abundant caution. Senior advocate Mukul Rohatgi, appearing for the petitioners along with advocate Hemant Shah, confirmed the compliance during the hearing.The Bench comprising Justices J.K. Maheshwari and Vijay Bishnoi noted that the Court’s office report dated December 16 had verified the deposit and that the Additional Solicitor General had not disputed the same. In view of this, the Court directed the Registrar (Judicial Administration) to disburse Rs 5,100 crore to the consortium of lender banks on a proportionate basis, following due verification and transfer to their respective accounts.According to the legal team representing the Sandesara brothers, the original FIR pertained to alleged dues of about Rs 5,383 crore, whereas recoveries effected so far have touched approximately Rs 9,800 crore, nearly double the amount cited in the FIRWith the consent of all parties, the Supreme Court also ordered a complete closure of criminal and enforcement action against the petitioners. It directed that all investigations and proceedings arising from the FIR registered by the Central Bureau of Investigation, along with cases and attachments initiated by the Enforcement Directorate under the PMLA, proceedings under the Fugitive Economic Offenders Act, SFIO inquiries, and matters relating to black money and income tax laws, shall stand quashed.Clarifying the scope of the closure, the Court said that a “quietus” had been reached in the matter and instructed all investigating agencies to formally communicate the closure of proceedings at every level, including to authorities at airports, through the Ministry of External Affairs.The Bench further accepted the submission that the excess amount deposited in excess of Rs 5,100 crore, lying with the Bank of Maharashtra’s Supreme Court branch, along with accrued interest, be transferred to the Supreme Court Legal Services Committee. The funds are to be utilised for benevolent purposes at the Committee’s discretion.In light of the affidavit filed by the petitioners and confirmation of compliance with its directions, the Supreme Court formally closed the proceedings by disposing of the miscellaneous application in full satisfaction of its earlier orders.The litigation originated in multiple writ petitions filed by the Sandesara brothers seeking the quashing of FIRs, ECIRs, prosecution complaints, attachments, and coercive proceedings under several statutes, including the PMLA, the Fugitive Economic Offenders Act, the Companies Act, and the Black Money Act.End of ArticleFollow Us On Social MediaVideos’Nukes Are Tools For Escalation, Not Peace’: Student Exposes Munir’s Mindset At India vs Pak Debate’India Faces Two War Realities: Counter Terror Strikes And Long Conflicts’, Says CDS Anil ChauhanRahul Gandhi Attacks Modi Govt In Germany, Says ‘West, India Handed Over Production To China’Russia Calls For Reduced Bangladesh-India Tensions, Recalls 1971 WarNew Video Reveals Final Moments of Hindu Man Dipu Before Lynching in BangladeshIndians Trapped By H-1B Renewal Chaos As US VP JD Vance Defends Visa Curbs As Christian PoliticsEx-TMC MLA Humayun Kabir Launches New Party, Targets Mamata Banerjee Ahead of PollsMuhammad Yunus Interim Rule Sparks Alarm, Indian Diplomats Back Hasina On Anti India Narrative ShiftYogi Adityanath Says Vande Mataram Became Victim of Congress Appeasement PoliticsNew Zealand India FTA Sparks Coalition Rift As PM Christopher Luxon Backs Deal, NZ First Rejects It123PhotostoriesCuriosity Corner: How do aeroplanes stay in the sky?Nutrition fact of the day: 7 science-backed nutritional facts about bone brothHollywood celebrity breakups and divorces in 2025: From Nicole Kidman-Keith Urban to Katy Perry-Orlando Bloom5 parenting lessons 2025 taught us8 traditional ragi dishes that have stood the test of time and why they are a winter must haveWhat is the “golden pyramid of fat loss” and why do people mostly start at the wrong levelBaby boy names that means positivityHow to grow healthy papaya tree from seeds in pots in your balconyShin Min-Ah weds Kim Woo-Bin: Shin Min-Ah stuns in the most stunning bridal gown ever! 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NEW DELHI: Bringing a long-running financial and criminal dispute to an end, the Supreme Court of India has disposed of the Sandesara matter after recording complete compliance with its earlier directions on deposit of funds and settlement with lender banks.The petitioners informed the Court that they had complied with the November 19 order by depositing a total sum of Rs 51,11,43,36,390.40, which also included an additional amount deposited as a measure of abundant caution. Senior advocate Mukul Rohatgi, appearing for the petitioners along with advocate Hemant Shah, confirmed the compliance during the hearing.The Bench comprising Justices J.K. Maheshwari and Vijay Bishnoi noted that the Court’s office report dated December 16 had verified the deposit and that the Additional Solicitor General had not disputed the same. In view of this, the Court directed the Registrar (Judicial Administration) to disburse Rs 5,100 crore to the consortium of lender banks on a proportionate basis, following due verification and transfer to their respective accounts.According to the legal team representing the Sandesara brothers, the original FIR pertained to alleged dues of about Rs 5,383 crore, whereas recoveries effected so far have touched approximately Rs 9,800 crore, nearly double the amount cited in the FIRWith the consent of all parties, the Supreme Court also ordered a complete closure of criminal and enforcement action against the petitioners. It directed that all investigations and proceedings arising from the FIR registered by the Central Bureau of Investigation, along with cases and attachments initiated by the Enforcement Directorate under the PMLA, proceedings under the Fugitive Economic Offenders Act, SFIO inquiries, and matters relating to black money and income tax laws, shall stand quashed.Clarifying the scope of the closure, the Court said that a “quietus” had been reached in the matter and instructed all investigating agencies to formally communicate the closure of proceedings at every level, including to authorities at airports, through the Ministry of External Affairs.The Bench further accepted the submission that the excess amount deposited in excess of Rs 5,100 crore, lying with the Bank of Maharashtra’s Supreme Court branch, along with accrued interest, be transferred to the Supreme Court Legal Services Committee. The funds are to be utilised for benevolent purposes at the Committee’s discretion.In light of the affidavit filed by the petitioners and confirmation of compliance with its directions, the Supreme Court formally closed the proceedings by disposing of the miscellaneous application in full satisfaction of its earlier orders.The litigation originated in multiple writ petitions filed by the Sandesara brothers seeking the quashing of FIRs, ECIRs, prosecution complaints, attachments, and coercive proceedings under several statutes, including the PMLA, the Fugitive Economic Offenders Act, the Companies Act, and the Black Money Act.
