India

High Court Summons ED Assistant Director, EWO Director General, And Home Secretary for Clarification

The Allahabad High Court expressed dissatisfaction with the investigation into the Sign City Company fraud case involving over 237 crores, stating that no significant progress had been made in the last 16 months despite the court’s intervention.

In response, the division bench of Justice Siddharth and Justice Prashant Kumar summoned the investigating officer, Assistant Director of the Enforcement Directorate (ED), to appear before the court along with relevant records. Additionally, the Director General of the Economic Offenses Wing of the state and the Home Secretary were ordered to provide an explanation for the lack of progress in the investigation on May 31 at 10 am.

The court’s scrutiny came during the hearing of the criminal petition filed by Shriram Ram, with the next hearing scheduled for May 31.

Also read: Delhi High Court Bids Farewell To Justices Sachdeva And Rao As They Embark On New Chapters In Madhya Pradesh And Karnataka High Courts

The case involves the illegal formation of a web company and fraudulent schemes that led to numerous investors being cheated. Despite some arrests made following the High Court’s intervention, the main accused, Rashid Naseem, managed to flee to Dubai after his release from Nepal, where he continues to operate criminal activities. Despite efforts by the Serious Fraud Investigation Office (SFIO), ED, and the state’s Economic Offenses Wing, no concrete results have been achieved since 2018.

The court expressed displeasure over the lack of action against Naseem’s companies and the issuance of a passport to him in Dubai despite officials being aware of his criminal activities. Additionally, the court was concerned about the apparent connivance of authorities in facilitating fraudulent activities, as evidenced by an incident where a jailed accused managed to transfer land with police involvement.

During the hearing, the court summoned officials in response to allegations of continued criminal activities by the main accused, emphasizing the urgency of the matter.

Kavya Bhatt

Recent Posts

Kisan Credit Card Scheme A Lifeline For Indian Farmers: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Saturday described the Kisan Credit Card (KCC) scheme as a…

1 hour ago

Trump Administration Shuts Down Controversial ‘Quiet Skies’ Surveillance Program

The Trump administration has officially shut down the ‘Quiet Skies’ passenger surveillance program, a covert…

2 hours ago

PM Modi Likely To Visit Bengal For Twin Programmes On June 20

Prime Minister Narendra Modi is likely to visit West Bengal later this month for two…

2 hours ago

Elon Musk Hints At Launching ‘The America Party’ As Political Rift With Trump Widens

Elon Musk has sparked speculation about founding a new political outfit named 'The America Party'…

2 hours ago

Trump Set to Sell His Tesla Car As Clash With Elon Musk Escalates

US President Trump is reportedly planning to sell his Tesla car, purchased in March to…

2 hours ago

Musk-Trump Fallout Threatens NASA And Pentagon Operations: Report

A recent fued between Elon Musk and former US President Donald Trump has raised serious…

3 hours ago