The Supreme Court directed the CBI to investigate financial irregularity allegations against the promoters of Indiabulls Housing Finance (now Sammaan Capital), despite the EOW’s exonerating report. New Delhi: The Supreme Court on Tuesday directed the Central Bureau of Investigation (CBI) to investigate allegations of financial irregularities levelled against the promoters of Indiabulls Housing Finance Limited […]
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.
The Supreme Court saw a fiery exchange between Senior Advocates Harish Salve and Prashant Bhushan during the hearing of the Indiabulls Housing Finance fraud case. Heated words flew over alleged fund diversion, with Bhushan accusing Salve of being out of touch from London.
