Bhushan Steel's erstwhile promoter Neeraj Singal, arrested by the SFIO for allegedly siphoning off Rs 25 billion funds, on Wednesday got bail from the Delhi High Court, even as the Supreme Court agreed to hear the appeal of the probe agency against the release order on Thursday. In a day filled with dramatic twists and turns in the case, the Delhi High Court at 10.30 AM granted interim bail to the jailed industrialist which led the Serious Fraud Investigation Office (SFIO) to rush to the apex court to seek a stay on the release order. A bench headed by Chief Justice Dipak Misra did not grant interim stay on the High Court's order but considered the vehement submissions of the probe agency that the release of Singal would cause a grave harm to the investigation and ordered listing of the appeal at 10.30 AM on Thursday. However, subsequent developments at the High Court in the evening virtually rendered Wednesday's proceedings in the top court on SFIO's appeal infructuous.
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