The Supreme Court criticised SEBI for showing “double standards” in the Indiabulls financial irregularities case and questioned the CBI’s unusually soft stance. The Court said even partial truth in the allegations warrants immediate FIR and coordinated action.
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.
Byju Raveendran filed a caveat with the Supreme Court on August 3 against US-based creditor Glas Trust Company LLC, following an NCLAT order. The NCLAT had restored Byju’s board and overturned insolvency proceedings against the edtech company. This preemptive legal move aims to ensure a fair hearing before any potential challenge by Glas Trust.
