Court Rejects Bail for Chaitanyanand Saraswati in Financial Fraud Case

Delhi's Patiala House Court dismissed the anticipatory bail plea of Chaitanyanand Saraswati, accused of financial misconduct involving the Sringeri Sharada Peetham. The court deemed custodial interrogation essential to uncover a conspiracy chain as allegations of a fraudulent trust, misappropriation, and multiple identities emerged.

On Friday, the Patiala House Court in Delhi denied the anticipatory bail plea of Chaitanyanand Saraswati, who stands accused of large-scale financial discrepancies linked to the Sringeri Sharada Peetham. The decision was handed down by Additional Sessions Judge (ASJ) Dr. Hardeep Kaur, following arguments presented by both the defense and prosecution.

The case stems from allegations that Saraswati and his associates illegally established a deceptive trust and fabricated documents, including purported AICTE approvals, to divert funds intended for the Peetham and the Sri Sharada Institute of Indian Management Research. The prosecution claimed Saraswati also engaged in land subletting in Vasant Kunj, siphoning off approximately Rs 40 crore.

The court noted that granting anticipatory bail would severely hinder the probe, which remains at an early stage. Highlighting the gravity of charges—which include fraud and corruption—the judge referenced Supreme Court precedents on denying bail in such cases, emphasizing risks of evidence tampering and intimidation. As a result, Saraswati's bail plea was dismissed, ensuring the investigation proceeds unimpeded.

(With inputs from agencies.)