Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Public Interest Litigation - Writ petition u/Art. 32 inter alia . seeking independent investigation into alleged administrative and financial irregularities of Industrial Finance Corporation of India (IFCJ) |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Writ Petition |
Court | Supreme Court of India |
Disposal Nature | Petition Disposed Off |
Headnote | Public Interest Litigation - Writ petition u/Art. 32 inter alia . seeking independent investigation into alleged administrative and financial irregularities of Industrial Finance Corporation of India (IFCJ) - Held: IFCI has a huge financial commitment to the Union c Government in terms of loans.· grants and guarantees - There is a vital element of public interest in ensuring that a full, fair and objective scrutiny is carried out by an independent regulatory - Object and purpose of such an enquiry is to scrutinize serious allegations levelled in regard to the investments made by IFCI - D Directions issued to the Union Ministry of Finance and Union Ministry of Corporate Affairs to ensure that a proper scrutiny is carried out in respect of the allegations which form subject matter of these proceedings - Companies Act, 1956. · Industrial Finance Corporation of India (IFCI), established as a statutory Corporation under the Industrial Finance Corporation oflndia E Act, 1948 was converted into a Company after the repeal of the said Act in 1993. In or about December 2009, there were several complaints alleging gross irregularities in certain investments made and generally in regard to the accountability ofIFCl to the Government oflndia. Before this Court, the writ petitioners sought diverse reliefs, including independent F investigation, in relation to the conduct of business and affairs ofIFCI. |
Judge | Hon'ble Dr. Justice D.Y. Chandrachud |
Neutral Citation | 2016 INSC 908 |
Petitioner | Centre For Public Litigation |
Respondent | Union Of India & Ors. |
SCR | [2016] 9 S.C.R. 673 |
Judgement Date | 2016-09-23 |
Case Number | 355 |
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