The Delhi High Court has granted permission to Anant Raj Kanoria, the son of one of the promoters of SREI Infrastructure, to travel to the United States for medical treatment related to epilepsy. However, this decision comes with strict conditions, including the deposit of a substantial bank guarantee of ₹100 crore with the court, along with two sureties of ₹100 crore each from individuals residing in India.
Justice Subramonium Prasad, while permitting Kanoria's travel, made it clear that this decision should not be construed as a judgment on the merits of the ongoing case, as it could potentially prejudice both parties involved. He emphasized that Kanoria had not been named in the FIR or ECIR, and no complaints had been registered against him.
The court acknowledged Kanoria's cooperation with the Enforcement Directorate (ED) during their investigation, having appeared for questioning on eight separate occasions.
The ED, opposing Kanoria's travel request, argued that the medical treatment he sought in the US was readily available in India. They also expressed concerns that allowing his travel could impede the ongoing investigation and that he might tamper with the proceeds of the alleged crimes or not return to India, especially since his wife is already in the US.
Kanoria's legal counsel argued that he had been receiving treatment for epilepsy in Boston since 2010 and required an electroencephalogram (EEG) test there.
The court's decision permits Kanoria to travel to Boston specifically for medical treatment from September 6 to 18. Among the conditions set by the court are that Kanoria must provide the required bank guarantee, stay exclusively in Boston during his time abroad, use a designated phone number, and restrict his travel to the United States only. Additionally, he must provide his travel itinerary and return to India by September 19, reporting to the court within 24 hours of his arrival.
The case revolves around allegations of cheating, forgery, and other offenses involving the Kanoria family, who were associated with SREI Infrastructure Finance Ltd (SIFL) and SREI Equipment Finance Ltd (SEFL), non-banking finance companies based in Kolkata. These companies faced insolvency proceedings due to alleged defaults in repaying creditors, with claims exceeding ₹32,000 crore, including over ₹10,000 crore in fraudulent transactions.
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