HC directed formation of Special Investigation Team (SIT) under ...

Special Investigation Team Under CBI To Probe Multi-Jurisdictional Financial Fraud Through Shell Companies and Fictitious Invoices

February 5, 2025

Case Laws Money Laundering HC

HC directed formation of Special Investigation Team (SIT) under CBI Zonal Director's supervision to investigate allegations of large-scale financial fraud, money laundering, and misappropriation of public funds. The case involved fraudulent activities through shell companies in tax havens, unsecured advances to subsidiaries, and creation of fictitious invoices spanning multiple jurisdictions including Mauritius, USA, Australia, and UAE. Given the magnitude of the alleged scam involving thousands of crores, multiple jurisdictions, nationalized banks, and international entities, the Court determined that neither EOW nor CBI alone could ensure fair investigation. The Court exercised its jurisdiction to order CBI investigation without State consent, citing national and international implications. Joint Director CBI (ACB) Mumbai to supervise the investigation.

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HC directed formation of Special Investigation Team (SIT) under ...

Special Investigation Team Under CBI To Probe Multi-Jurisdictional Financial Fraud Through Shell Companies and Fictitious Invoices

February 5, 2025

Case Laws Money Laundering HC

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