Lawstreet Journal

Acceptance of SC: Petition Contesting Stay of Look Out Circulars Against Sahara Group Firms By Centre

Lawstreet Journal 20 May 2022 10:49pm

Image courtesy: Lawstreet Journal Judiciary Acceptance of SC: Petition Contesting Stay of Look Out Circulars Against Sahara Group Firms By Centre

Serious Fraud Investigation Officer's SLP against Delhi High Court's Dec. 13, 2021 judgement suspending the investigation orders issued by the Central Government against Sahara Housing Investment Corporation Limited, Sahara India Real Estate Corporation Limited, and Aamby

Valley Limited was accepted by the Supreme Court in "SFIO v. Sahara Housing Investment Corporation Limited" on Tuesday.

Solicitor General Tushar Mehta brought up the SLP before the bench led by Chief Justice of India NV Ramana. 

"One matter filed by us where a lookout circular in the case of Sahara has been stayed." There is some apprehension. It was filed but was not listed. I'll get the details," submitted SG. 

"We will list it," CJI said. 

SFIO stated in its application for immediate listing that all acts and proceedings taken under Central Government decisions dated October 31, 2018 and October 27, 2020 have been halted, which adversely affects the current investigation and proceedings. 

In the SLP, the SFIO requested that the Delhi High Court's December 13, 2021, order be stayed. 

Sahara Q Shop Unique Products Range Limited, Sahara Q Gold Mart Limited, and Sahara Housing Investment Corporation Limited were all named targets of an investigation that was ordered on October 31, 2018, based on a report from Mumbai's Revenue Controller General (ROC), which had been issued on August 14, 2018. The Inspectors must submit their investigation reports to the Central Government within three months of the 31st of October 2018 as specified in the directive. 

Aamby Valley Limited, Qing Ambay City Developers… Continue Reading...


Tagged: Delhi High Court   Serious Fraud Investigation Office   Sahara Housing Investment Corporation Limited   Tushar Mehta   Section 212         Section 219   Justice Jyoti Singh   Section 208   Subrata Roy   Companies Act 2013  
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