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New management finds old owners engaged in fraud, Delhi HC asks relevant ministry to take action

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India Legal
New management finds old owners engaged in fraud, Delhi HC asks relevant ministry to take action

The new management of SKS Power Generation Company has moved the Delhi High Court, alleging that the previous management had engaged in fraudulent activity and that a CBI enquiry has to be conducted into it.

The bench of Justice Suresh Kumar Kait, last Monday, had ordered that the Ministry of Home Affairs should take a decision on the representation made by the petitioner in this regard within four weeks.

The allegation in the plea was against the ex-management, ex-promoters, and ex-employees of the company. The bench had also made it clear that if the Ministry of Home Affair is of the opinion that the representation is to be decided by the Ministry of Company Affairs, the notice should be sent to the company in two weeks and the Ministry of Company Affairs shall take a decision within four weeks thereafter. That decision has to be communicated to the petitioner in writing within one week thereafter.

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