Bombay HC Quashed SFIO Investigation for Lack of Material & Non-Application of Mind

Parmeshwar Das Agarwal Vs Additional Director (Investigation) Serious Fraud Investigation Office (Bombay High Court) The Bombay High Court allowed the writ petition and quashed the Central Government’s order dated 6 May 2016 directing an investigation by the Serious Fraud Investigation Office (SFIO) into the affairs of a private company under Section 212(1)(c) of the Companies Act, 2013. The petitioners, who were majority shareholders and directors of the company, challenged the validity of the investigation order and the consequent summons issued by SFIO. Read SC Judgment: SC Dismisses SFI...