The Bombay High Court on 31 January directed the CBI to set up a special investigation team (SIT).
An FIR has been lodged against Mumbai -based company Jai Corporation and its director and promoter Anand Jayakumar Jain. The Central Bureau of Investigation (CBI) has filed this FIR. The case is related to alleged misuse of Rs 2,434 crore raised from the public during the year 2006-08. According to the news of the language, the officials gave this information on Wednesday. The step has been taken on the order of the Bombay High Court after a complaint was filed by activist Shoaib Richie Sex.
Money was misused for these works
According to the news, Shoaib Richie Sexwearia had alleged that in Mumbai and other cities, money was raised from the public for the urban infrastructure opportunity fund scheme for the purpose of real estate business. It is alleged that the money was misused to set up companies in tax free countries, for alleged fraudulent trade and other illegal activities of a major oil company’s futures and options. The Bombay High Court on 31 January directed the CBI to set up a special investigation team (SIT) to investigate complaints. Jai Corporation is engaged in steel manufacturing, plastic processing and yarn spinning work.
Company shares fluctuate
Jai Corp’s shares made the business debut, which opened a stable at Rs 102.59. Jai Corp shares have ups and downs from the beginning of Intrade trade on Thursday. After this, the company’s shares also increased slightly. However, the company’s stocks declined further, but again accelerated. The company’s stock was seen trading at Rs 102.65 at 11.35 am. The company’s shares performed well on Wednesday. It gained 4.99 percent to Rs 102.59 per share. The Indian markets have been a day full of ups and downs so far, there was a lot of ups and downs in the first half of the day.
Latest business news
