Bombay High Court Dismisses Writ Petition Filed by Promoters of Binny Ltd against SEBI; Imposes Costs
In a writ petition filed by Binny Ltd and one of its promoters, M Nandagopal, against the Securities & Exchange Board of India (SEBI), a Bombay High Court bench of Justice Gautam Patel has observed a “specific finding based on a forensic audit report of an alleged diversion of funds of Rs851.27 crore” and also a “reference to loss to investors” in the said forensic audit report.
Source: moneylife.in