The Madras High Court upheld SBI’s decision to cancel the appointment of a Circle Based Officer after a CIBIL report showed major loan defaults. Justice N. Mala dismissed the candidate’s writ petition, backing the bank’s stance on financial integrity.
The Supreme Court has emphasized that anticipatory bail should be granted sparingly in economic offences, given their serious impact on the financial system and public trust. The observation came while the Court set aside anticipatory bail granted to several accused in the Adarsh Group of Companies scam. It noted that economic offences require thorough investigation and custodial interrogation, which can be hampered by pre-arrest bail.
New Delhi: Today, 19th March, The Supreme Court has asked the Central Bureau of Investigation (CBI) to present its stance on a plea demanding a thorough investigation into alleged financial fraud by Kolkata-based SREI Group. The plea claims that the company engaged in fund mismanagement, including round-tripping money through a private trust and misusing public funds taken from various banks.
