The counsel for SFIO argued that although the petitioner has justifiable emotional and personal reasons to attend the graduation ceremony of his sons, the paramount economic interest of the company cannot be brushed aside, particularly when there are prima facie findings that more than ₹1,800 crores have been siphoned off out of India.
The High Court after hearing the parties ruled that there was no illegality or perversity in the trial court’s decision.
It emphasized that the investigation being conducted by the SFIO in the public interest to protect the economic and national interests of the country, was on a “much higher pedestal”.
“Indeed, attending the graduation ceremony of his son, which event is a once in a lifetime experience, is a momentous occasion in one’s life and the sentiments of fatherly love for the son cannot be brushed aside, but the same has to be given way in order to further the paramount national interest and fundamentally safeguard the interests of the stakeholders who have been deprived of their hard-earned investments in REL‟ and other companies,” the Court said.
Source: Barandbench
