No action on summons in opposition to Subhash Chandra for 3 weeks in fund diversion case: Sebi to HC
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No action on summons in opposition to Subhash Chandra for 3 weeks in fund diversion case: Sebi to HC

Business new tamfitronics MUMBAI: The Securities and Replace Board of India (Sebi) on Wednesday instructed the Bombay Excessive Court it would no longer clutch any extra action on the summons issued by it to Essel Crew Chairman Subhash Chandra in an alleged fund diversion case. Chandra had filed a petition earlier this month engrossing the summons and had sought for it to be quashed. The businessman's counsel, Ravi Kadam, sought for the general complaints initiated by the Sebi to be quashed and argued that the capital market watchdog was as soon as going forward with the probe in a "predetermined" formulation. A division bench of Justices Girish Kulkarni and Firdosh Pooniwalla on Wednesday accepted the Sebi to file its affidavit in reply to Chandra's petition. The...
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