In the ongoing saga surrounding the alleged INR 400 crore Seagull Maritime fraud case, the Saket District Court has dismissed the regular bail plea of accused Hira Malhotra in connection with an economic offence investigation that has seen proceedings before multiple courts over the past few years.
The Court rejected the application after examining both the maintainability of the plea and the nature of the allegations under various provisions of the Indian Penal Code.
Addressing the legal question of custody, the court observed, “Custody, in the context of Section 439, is physical control or at least physical presence of the accused in Court coupled with submission to the jurisdiction and orders of the Court.”
The court further held, “In view of the aforesaid discussion and considering the gravity of the offence, I am not inclined to grant bail to the applicant/accused Hira Malhotra.”
The case arises from an FIR registered on a complaint by Seagull Maritime Agencies Pvt. Ltd., alleging diversion of business, manipulation of freight bookings and shipping documentation, and related financial irregularities. Besides Hira Malhotra, the investigation has also involved co-accused including Charu Khera, Dr Aadhar Khera and Sidharth Khera.
The Saket court clarified that its observations were confined strictly to the stage of bail and that issues of guilt or innocence would be determined during trial.
The present proceedings form part of a broader investigation that has unfolded since 2020–21 and has travelled through various judicial forums.
During this period, the Economic Offences Wing (EOW) of Delhi Police examined financial records, corporate communications and cross-border transactions linked to the complainant company. Multiple accused persons approached courts at different stages seeking anticipatory or regular bail, resulting in parallel proceedings before trial courts and constitutional courts.
Proceedings before the Delhi High Court included challenges relating to arrest, protection from coercive steps and the scope of custodial interrogation.
The matter subsequently reached the Supreme Court of India, where questions concerning investigation, cooperation and the overseas presence of one of the accused were examined.
Last year, the Supreme Court directed the Economic Offences Wing to take all necessary and effective measures, including the use of diplomatic channels, to secure the deportation of key accused Sidharth Khera from the United States in connection with the alleged INR 400-crore fraud involving Seagull Maritime Agencies Pvt. Ltd. The apex court emphasised that the investigation must reach its logical conclusion and should not be impeded by the overseas location of an accused.
In the same order, the Supreme Court granted anticipatory bail to co-accused Dr Aadhar Khera and Charu Khera, setting aside the earlier denial by the Delhi High Court. The relief, however, was made subject to strict conditions, including full cooperation with the investigation, responding to questionnaires and furnishing documents sought by the Economic Offences Wing.
