Case Law Details
Directorate of Enforcement Vs Niraj Tyagi & Ors. (Supreme Court of India)
Introduction: The legal dispute between the Directorate of Enforcement and Niraj Tyagi & Ors reached the Supreme Court, challenging interim orders by the Allahabad High Court. This article delves into the intricacies of the case, analyzing the background, key arguments, and the apex court’s ruling.
Detailed Analysis:
The case stemmed from interim orders by the Allahabad High Court, staying proceedings against respondents accused of financial irregularities. The respondents, including Niraj Tyagi and India Bulls Housing Finance Limited (IHFL), faced allegations related to loans and property transactions.
IHFL, a non-banking financial institution, had extended substantial loans to Shipra Group entities for housing projects. However, defaults led to legal disputes, including proceedings under the SARFAESI Act and multiple FIRs alleging financial misconduct.
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