The Supreme Court on Wednesday came down hard on the CBI, SEBI and the Ministry of Corporate Affairs (MCA) over what it described as an inexplicable reluctance to investigate allegations of large-scale dubious transactions involving Indiabulls Housing Finance Limited (IHFL), now operating as Sammaan Capital Limited.

A bench of Justices Surya Kant, Ujjal Bhuyan and N Kotiswar Singh directed the CBI director to convene a joint meeting with senior officials of SEBI, the Serious Fraud Investigation Office (SFIO) and the Enforcement Directorate (ED) to examine the allegations raised by NGO Citizens Whistle Blower Forum . Advocate Prashant Bhushan appeared for the petitioner.

The bench expressed strong displeasure over what it saw as a surprisingly “friendly attitude” by the CBI.

Justice Ka

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