Supreme Court Rejects Consolidation of FIRs Across States in Investor Protection Cases

 

In a recent legal development, the Supreme Court has dismissed a plea to consolidate multiple First Information Reports (FIRs) filed across various states in cases related to investor protection. The court’s decision hinged on the complexity of the offenses, which not only invoked provisions of the Indian Penal Code (IPC) but also various state enactments specifically crafted for safeguarding investors.

The petitioner sought the amalgamation of 10 FIRs in Chhattisgarh, 4 in Tamil Nadu, 8 in Rajasthan, 2 each in Maharashtra and Delhi, 3 in Madhya Pradesh, and an additional FIR in Haryana, totaling 30 FIRs. However, the Supreme Court, led by Justices BV Nagarathna and Ujjal Bhuyan, reasoned that such consolidation would undermine the jurisdiction of specialized courts designated for these offenses in each state.

The court emphasized that the FIRs not only invoked IPC provisions but also specific state enactments, leading to the establishment of special courts in each state to handle cases related to investor protection. Combining these FIRs, the court argued, would strip jurisdiction from these specialized courts and concentrate it in one jurisdiction, adversely affecting the legal proceedings.

The petitioner, represented by Senior Advocate J.S. Attri, drew parallels with previous cases where FIRs were consolidated to prevent multiple legal proceedings. However, Additional Solicitor General Vikramjit Banerjee, representing the respondent, cited a recent judgment emphasizing that relief and consolidation of FIRs within each state should be pursued through the jurisdictional High Courts.

The court distinguished the present case from precedents like Radhey Shyam’s, where consolidation was allowed under Article 142 of the Constitution with the consent of concerned states. The court concluded by refusing to exercise jurisdiction under Article 142 but granted the petitioner the liberty to approach individual jurisdictional High Courts for the consolidation of FIRs within each respective state and seek any other applicable legal remedies.

Amandeep Singh Sran v. State of Delhi

 

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