Author: Harsh Kher, Student at Amity University, Lucknow
Co-Author: Arpit Agarwal, Student at Amity University, Lucknow
FACTS
SFIO looked into the business dealings of Bhushan Steel Ltd. (BSL) and other corporations.
The learned trial court determined that there was enough evidence against the petitioner in the complaint case SFIO V. Bhushan Steel Limited & Ors. against the petitioner and other 286 people and entities for him to be prosecuted for offenses under sections 128, 129, 448, and 447 of the Companies Act, 2013.
As a result, the learned Additional Session Judge in the aforementioned Complaint matter issued a summons order against the petitioner and another 286 individuals/entities.
The petitioner complained about the summons order in a plea that was submitted to the Delhi High Court.
The petitioner was a nominee for the board of directors of Punjab National Bank Ltd.
