Supreme Court Demands Original IHFL Records Amid Alleged Financial Irregularities
The Supreme Court has demanded original records from the Ministry of Corporate Affairs and clarified stances from the Enforcement Directorate on alleged financial irregularities in Indiabulls Housing Finance Limited, now Sammaan Capital Limited. The case revolves around accusations of money laundering and large-scale financial bungling.
- Country:
- India
The Supreme Court on Wednesday directed the Ministry of Corporate Affairs to present original records related to alleged irregularities identified by SEBI in the operations of Indiabulls Housing Finance Limited, now known as Sammaan Capital Limited.
Justices Surya Kant, Ujjal Bhuyan, and N Kotiswar Singh requested Additional Solicitor General SV Raju to clarify how many cases had been closed, citing the need for transparency in handling hundreds of objections raised against the company.
The bench also instructed the Enforcement Directorate to assert its stance on CBI's findings concerning money laundering charges and the response taken regarding counteraffidavits highlighting similar issues. The top court's demand comes as a response to a plea by an NGO concerning large-scale financial misconduct in Indiabulls' affairs.
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