The Supreme Court on Tuesday agreed to consider the plea of probe agency SFIO challenging the Delhi High Court order granting relief to Sahara Group firms.
The Delhi High Court had ordered to stay the investigation related to nine companies of Sahara Group. A bench of Chief Justice NV Ramana and Justice Hima Kohli was told by Solicitor General Tushar Mehta that the petitioner (SFIO) raised certain concerns regarding the recent stay of the lookout notice issued against Sahara Group chief Subrata Roy by another bench. Huh.
The Serious Fraud Investigation Office (SFIO), an agency investigating corporate fraud, appealed in the apex court against the order of the Delhi High Court on December 13, 2021. The Delhi High Court had stayed all subsequent proceedings, including punitive action and lookout notices, against the Sahara group chief and others.
The SFIO, in its appeal, said that the proceedings have been stayed, adversely affecting the ongoing investigation. Along with this, the investigating agency requested for an urgent hearing in the matter.