Delhi High Court issued notice to RBI in this case
Delhi High Court issued notice to RBI in this case
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New Delhi: The Delhi High Court has issued a notice to the Central Government and the RBI in a case of rigging. The case is related to Indiabulls Housing Finance (IBHFL). In which there is a charge of misappropriation of funds. A petition has been filed in the High Court seeking an SIT probe into the alleged misappropriation. It said that the IBHFL committed many irregularities in violation of the rules.

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The court has fixed the next hearing on 13 December. A bench of Delhi High Court Chief Justice DN Patel and Justice C. Hari Shankar has sought answers from the central government, the Reserve Bank and Indiabulls. This petition has been filed by an NGO. The NGO has demanded a probe by the SIT into the alleged scam by the finance company. The NGO says that for the past several years, IBHFL has taken huge loans from various government and private banks.

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In this way, it placed the public's money and the money of IBHFL shareholders and investors in the form of doubtful debt to companies owned by large corporate groups and placed it at stake. The same group is investing in the company of promoters of Indiabulls. The NGO has urged the court to order the Ministry of Corporate Affairs to conduct an inquiry with SFIO in the matter of alleged irregularities of Indiabulls. Members of this NGO include former Delhi High Court Chief Justice AP Shah, former Chief Naval Chief Admiral L Ramdas, former IAS officer Aruna Roy and senior advocate Prashant Bhushan.

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