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  4. SC lifts stay on probe against Sahara Group companies by Serious Fraud Investigation Office

SC lifts stay on probe against Sahara Group companies by Serious Fraud Investigation Office

A vacation bench of justices DY Chandrachud and Bela M Trivedi allowed the appeal filed by the SFIO against the high court order.

PTI Reported by: PTI New Delhi Published on: May 26, 2022 13:11 IST
SC lifts stay on probe against Sahara Group companies by Serious Fraud Investigation Office, latest
Image Source : PTI/ REPRESENTATIONAL (FILE).

SC lifts stay on probe against Sahara Group companies by Serious Fraud Investigation Office.

Highlights

  • SC set aside Delhi HC order staying SFIO probe into 9 companies related to Sahara group
  • Vacation bench of justices DY Chandrachud, Bela M Trivedi allowed appeal filed by SFIO against order
  • Apex court observed that the high court was "not justified" in staying investigation in the matter

The Supreme Court on Thursday set aside a Delhi High Court order staying the Serious Fraud Investigation Office (SFIO) probe into nine companies related to the Sahara group.

A vacation bench of justices DY Chandrachud and Bela M Trivedi allowed the appeal filed by the SFIO against the high court order.

The apex court observed that the high court was "not justified" in staying the investigation in the matter.

The SFIO, a statutory corporate fraud investigating agency, had filed an appeal in the top court against the December 13, 2021 order of the Delhi High Court staying all subsequent actions and proceedings, including coercive measures and lookout notices, against the Sahara group chief and others.

The high court had also stayed the operation and implementation of two orders of the SFIO for an investigation into nine companies related to the Sahara group.

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