The Supreme Court gave an earful to the Central Bureau of Investigation (CBI) for not appearing in a matter against Indiabulls Housing Finance Limited (IHFL) despite the agency being served a notice.
“We don’t appreciate this conduct. Once we issue a notice, they have to come here. How can they say they won’t appear before the Supreme Court?” the bench said.
WHAT IS THE CASE?
The top court was hearing a petition challenging the Delhi High Court’s order rejecting a plea for a court-monitored SIT probe into serious allegations of siphoning of funds by the promoters of Indiabulls Housing Finance Ltd, now known as Sammaan Capital Limited.
Advocate Prashant Bhushan, appearing for the petitioner, submitted that the Enforcement Directorate (ED) had said it was unable to act as there was no predicate offence. An application was moved urging the CBI to register a case.
The Justice Surya Kant-led bench observed that the nature of the allegations warranted investigation and a report by the central agencies.
“The allegations are of siphoning. In all fairness, the central agencies should have investigated and come up with a report,” the court said.
Noting that the CBI had been served a notice, the court said, “They don’t even have the guts to come to court?”
SOLICITOR GENERAL SEEKS TIME
The Additional Solicitor General sought a week’s time to get instructions, which was granted by the court. The bench reminded that the CBI doesn’t require a formal complainant to act. “What more information do they need? They already have the records,” the court asked.
Senior advocate Mukul Rohatgi, appearing for Indiabulls, countered the claims by stating that the company had been in existence for years and not a single complaint had come against it.
The matter will now be heard next on July 30.
– Ends
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