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New Delhi [India], September 26 (ANI): The Patiala house court on Friday reserved an order on the anticipatory bail of Chaitanyananda Saraswati. He has sought anticipatory bail in a case of financial irregularities lodged against him.

Additional Sessions Judge (ASJ) Dr Hardeep Kaur, after hearing the submissions, reserved the order and said that the order will be pronounced in the evening or tomorrow, Saturday.

Senior advocate Ajay Burman, counsel for Chaitanyananda Saraswati, submitted that an educational institution requires a trust to be formed.

He went outside Delhi on July 19. A complaint was filed, and an FIR was lodged immediately without any inquiry.

It is alleged that after getting a power of attorney, he formed a trust and transferred the property of Math in the name of the trust.

Senior advocate submitted that not a single property has been sold; everything is there, and the institute is being run by the trustees.

The court said that an FIR has been lodged; you go and join the investigation.

Counsel for the accused submitted that he is ready to join but the court should grant him interim protection.

Prosecution opposed the contention and said that we have to recover Rs 30 crores. He withdrew Rs 60 lakh after he absconded. We have to take him to 10 places and to effect the recovery.

Senior Counsel for the accused asked, “Which court is saying that if someone has committed misappropriation, put him in custody?”

On the other hand, the Prosecutor stated that he will oppose the granting of interim protection. Recovery cannot be effected if interim protection is granted. He is to be taken to different states.

Senior Counsel for the accused said that there is nothing against the accused. He has no personal expenses, no income. Go to civil court, and you get it dissolved. Despite three FIRs having been lodged.

Counsel for the accused submitted that the statements are being issued in the media. Material is being placed in the media, and the court record is also going to the media.

The prosecution stated that E. Murli was appointed as CA and came to know of financial irregularities. This accused, alongwith others, misappropriated the funds. They fraudulently created another trust, namely the Shri Sharda Institute of Management Research Foundation Trust. All the income was going into this trust.

The prosecutor said that after the creation of trust, Rs 20 crore rent and other funds came into the trust. All the money was misappropriated. Rs 60 lakh has been withdrawn in the last month.

After the registration of the FIR, there was a withdrawal of Rs. 55 lakhs from Canara Bank through the account of the foundation trust, the prosecution said.

The prosecutor further submitted that there are allegations of subletting of the properties.

The accused had two PAN cards, two passports, and different bank accounts with different names, police alleged.

It was further submitted that the accused sought one crore from the complainant to get a new course added. He sought one crore from the complainant to get a new course added.

Delhi police told the court that Chaitanyananda claimed to be a member of the PM Advisory Council and a UN Representative. (ANI)

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