38.6c New Delhi, India, Saturday, August 23, 2025
Top Stories Supreme Court
Political NEWS Legislative Corner Celebstreet International Videos
Subscribe Contact Us
close
Judiciary

Bitcoin scam: Supreme Court transfers FIRs to CBI, trial to be held in Delhi

By LAWSTREET NEWS NETWORK      14 December, 2023 11:28 AM      0 Comments
Bitcoin scam Supreme Court transfers FIRs to CBI trial to be held in Delhi

NEW DELHI: The Supreme Court on Wednesday issued orders for transferring all FIRs lodged in connection with the Bitcoin cryptocurrency scam to the CBI for further investigation and filing of chargesheets.

A bench of Chief Justice of India D Y Chandrachud and Justices J B Pardiwala and Manoj Misra also directed the CBI special court at Rouse Avenue Courts in Delhi would take up all the cases.

We are of the view that all FIRs in question should be consolidated and transferred for further investigation to CBI," the bench said, after hearing Additional Solicitor General Aishwarya Bhati and others.

The bench said that the amount deposited before this court pursuant to the interim order shall stand transferred to CBI court, Rouse Avenue, New Delhi.

The apex court modified its earlier order of August 30, 2019 granting anticipatory bail to the accused in over 45 FIRs and said it was no longer in force.

During the hearing, a counsel said this client had sought to consolidate all these cases, however the magistrates would want to see the Bitcoin and they don't realise it is virtual.

The counsel contended that no agency outside of Delhi has the expertise to investigate and asked the court to have an expert body like CBI investigate it.

A counsel contended that legality of Bitcoin was not known at that time and some people were keen to make profits. He added that hundreds of cases were filed and people had to travel from one place to another, and if they miss a date, they are put in jail.

The apex court asked the counsel, representing various parties, should the court consolidate all these FIRs in one place.

The counsel agreed with the courts suggestions.

The apex court said the accused, if not granted regular bail by another court, will have to seek it from the Delhi High Court.

The bench said the petitioner had deposited an amount of Rs one crore in the registry of this court and this amount should be transferred to the trial court.

The apex court passed the order while dealing with cases related to the quashing of multiple FIRs registered against Amit Bhardwaj and others for allegedly cheating investors across India by inducing them to trade in Bitcoin after promising them high returns. Amit Bhardwaj, his two brothers and their father were the accused in the case.

The Enforcement Directorate had said around 47 FIRs were registered against the accused for allegedly duping people across the country.

The cases involved alleged trading of 87,000 Bitcoin worth Rs 20,000 crore.



Share this article:

About:

Explore Comprehensive Legal Reporting with LawStreet Journal: Your Go-To Source for Supreme Court an...Read more

Follow:
TwitterLinkedinInstagram


Leave a feedback about this
Related Posts
View All

Another CBI Officer Investigating Rakesh Asthana Moves SC Against Transfer, Makes Startling Revelations Another CBI Officer Investigating Rakesh Asthana Moves SC Against Transfer, Makes Startling Revelations

After A.K. Bassi, another CBI officer who was investigating corruption allegations against Special Director Rakesh Asthana moved the Supreme Court.

Ayodhya verdict: SC rules in favour of Ram Lalla, Sunni Waqf Board gets alternate land Ayodhya verdict: SC rules in favour of Ram Lalla, Sunni Waqf Board gets alternate land

SC bench led by CJI Ranjan Gogoi has allotted the dispute site to Ram Janmabhoomi Nyas, while directing the government to allot an alternate 5 acre land within Ayodhya to Sunni Waqf Board to build a mosque.

Supreme Court: Money Spent On Judiciary Less Than 1% In All States Except Delhi Supreme Court: Money Spent On Judiciary Less Than 1% In All States Except Delhi

The court guided all states to document their response to the commission's report within four weeks. If any of the states fail to file a response, it will be presumed that they have no objections to the recommendations made by the commission, the court said.

Supreme Court Top Panel Names Chief Justices for Bombay, Orissa and Meghalaya High Courts Supreme Court Top Panel Names Chief Justices for Bombay, Orissa and Meghalaya High Courts

On April 18, 2020, the Supreme Court Collegium recommended new Chief Justices for three High Courts. Justice Dipankar Datta was proposed as Chief Justice of the Bombay High Court, succeeding Justice B.P. Dharmadhikari. Justice Biswanath Somadder was nominated as Chief Justice of Meghalaya High Court, while Justice Mohammad Rafiq was recommended for transfer as Chief Justice of Orissa High Court.

TRENDING NEWS

if-governor-does-not-declare-on-withholding-assent-for-time-immemorial-court-still-powerless-sc-poser-to-centre
Trending Judiciary
If Governor does not declare on withholding assent for time immemorial, court still powerless, SC poser to Centre

SC asks if Governor can withhold assent to Bills indefinitely, raising concern that legislature may be rendered defunct without judicial remedy.

22 August, 2025 12:41 PM
sc-widens-scope-of-suo-motu-hearing-on-stray-dogs-menace-suspends-previous-order-against-relocation
Trending Judiciary
SC widens scope of suo motu hearing on stray dogs menace; suspends previous order against relocation

SC expands stray dogs case to pan-India, suspends earlier relocation order; allows release after vaccination, bans unregulated feeding.

22 August, 2025 01:06 PM

TOP STORIES

sc-dismisses-plea-against-quashing-fir-in-case-of-suicide
Trending Judiciary
SC dismisses plea against quashing FIR in case of suicide of then MP Mohan Delkar

SC dismisses plea against quashing of FIR in ex-MP Mohan Delkar suicide case; Bombay HC’s 2022 order stands, no interference by Supreme Court.

18 August, 2025 12:21 PM
no-automatic-arrest-on-rejection-of-anticipatory-bail-supreme-court
Trending Judiciary
No Automatic Arrest on Rejection of Anticipatory Bail: Supreme Court [Read Order]

SC clarifies that rejection of anticipatory bail doesn’t mean automatic arrest; custody depends on investigation, conduct, and case facts.

18 August, 2025 12:27 PM
court-holds-surgeon-guilty-of-indulging-in-black-magic-during-hearing-sentenced-till-rising-of-court
Trending Judiciary
Court holds Surgeon guilty of indulging in black magic during hearing; sentenced till rising of court [Read Order]

Delhi court convicts surgeon for disrupting proceedings with ‘black magic’; sentenced till rising of court with ₹2,000 fine after apology.

18 August, 2025 12:40 PM
want-bravehearts-to-be-in-forces-sc-for-giving-insurance-cover-to-cadets-discharged-during-military-training
Trending Judiciary
'Want bravehearts to be in forces,' SC for giving insurance cover to cadets discharged during military training

SC seeks insurance cover, rehab and higher aid for cadets injured during military training, stressing need to support bravehearts joining armed forces.

18 August, 2025 04:00 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email