Indiabulls investigation to go on: court

April 8th, 2008 - 9:20 pm ICT by admin  


New Delhi, April 8 (IANS) The Delhi High Court Tuesday refrained from passing an order on the investigations against the officials of brokerage firm Indiabulls for their alleged illegal transactions from its investors accounts. Justice Sanjay Kishan Kaul in his order refused to quash an FIR against the officials, but assured them they will not be harassed at any point during investigations by the police.

Indiabulls Financial Services Ltd approached the court after the FIR was registered against its top officials, including vice-president, on the direction of a city court. They were alleged to have carried out illegal transactions from the accounts of investors registered with the company.

Senior counsel appearing on behalf of Indiabulls, Mukul Rohatgi, contended that the complaints of the investors were baseless and there was no case of cheating or criminal transaction.

He submitted that if the FIR could not be quashed, at least the court should provide protection to its officials.

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