**Supreme Court Criticizes CBI for Non-Appearance in Indiabulls Case**
The Supreme Court has expressed strong disapproval towards the Central Bureau of Investigation (CBI) for failing to appear in a case concerning Indiabulls Housing Finance Limited (IHFL), despite being served a notice. The bench remarked, “We don’t appreciate this conduct. Once we issue a notice, they have to come here. How can they say they won’t appear before the Supreme Court?”
**Background of the Case**
The Supreme Court was reviewing a petition that contested a Delhi High Court ruling, which dismissed a request for a court-monitored Special Investigation Team (SIT) probe into serious allegations of fund siphoning by the promoters of Indiabulls Housing Finance Ltd, now rebranded as Sammaan Capital Limited. Advocate Prashant Bhushan, representing the petitioner, highlighted that the Enforcement Directorate (ED) had indicated its inability to act due to the absence of a predicate offense, prompting a request for the CBI to initiate an investigation.
Justice Surya Kant, leading the bench, emphasized the necessity for an investigation given the serious nature of the allegations. “The allegations are of siphoning. In all fairness, the central agencies should have investigated and come up with a report,” the court stated. The bench further questioned the CBI’s reluctance to appear, stating, “They don’t even have the guts to come to court?”
**CBI Seeks Additional Time**
The Additional Solicitor General requested a week’s time to obtain instructions, which the court granted. The bench reminded that the CBI does not require a formal complainant to take action, asking, “What more information do they need? They already have the records.” In response, senior advocate Mukul Rohatgi, representing Indiabulls, countered the allegations, asserting that the company had operated for years without any complaints against it.
The case is scheduled for further hearing on July 30.
**Conclusion**
The Supreme Court’s stern remarks highlight the importance of accountability among investigative agencies in addressing serious allegations. As the case progresses, the implications for Indiabulls and the CBI’s role in the investigation will be closely monitored.
**FAQ**
**What are the allegations against Indiabulls Housing Finance Limited?**
Indiabulls Housing Finance Limited is facing serious allegations of siphoning funds by its promoters, prompting calls for a thorough investigation by central agencies.
