Whether insolvency application can be
entertained in a case where financial fraud exists?
2
Admittedly the corporate debtor company had
raised deposits from retail investors ... interfere in cases where there are financial irregularities,
illegalities or indications of a financial fraud.
The present case is one where interests of a large
DHFL, is alleged to be
the principal architect of a massive financial fraud involving diversion
and misappropriation of approximately ₹34,926.77 crores from a
consortium ... submitted that the investigation has revealed a massive and complex
financial fraud involving diversion and misappropriation of public
funds by the promoters
Recovery Cell of PMC
Bank, the alleged offence which involves financial fraud
to the tune of Rs.4635 Crores came to be registered.
4. Briefly ... Urmila Ingale 905-ba-2362-23.doc
perpetration of financial fraud that was committed
thereby putting the savings of around 9 to 12 lakhs
depositors
19310/2019 JUDGMENT DATED: 04/10/2023
undefined
huge financial fraud of the public money would surface and
he would be subjected to scrutiny ... statutory auditor as well as Ernst & Young report of huge
financial fraud and/or suspect fund diversion by respondent
no.3, petitioner became conscious
Recovery Cell of PMC Bank, the alleged
offence which involves financial fraud to the tune of Rs.4635
Crores came to be registered.
4. Briefly ... part as a Chairman in preventing the
perpetration of financial fraud that was committed thereby
putting the savings of around 9 to 12 lakhs depositors
Recovery Cell of PMC Bank, the alleged
offence which involves financial fraud to the tune of Rs.4635
Crores came to be registered.
4. Briefly ... part as a Chairman in preventing the
perpetration of financial fraud that was committed thereby
putting the savings of around 9 to 12 lakhs depositors
intentionally started
argument and injured him. The accused have committed
huge financial fraud under his name and diverted huge
money. Mr.Sanjay Gupta, Vice President ... have committed a
Crl.Petition No.7118 of 2021
6
huge financial fraud, intentionally outsourced development
work to one of the persons mentioned therein
main allegation of committing large scale financial fraud
and misappropriation of crores of rupees by receiving
disproportionate high payment for commercial
transaction made with Gandhamardan ... society and the
allegation against the petitioners is for financial fraud and
misappropriation of the funds of the society and the case
is not entirely
main allegation of committing large scale financial fraud
and misappropriation of crores of rupees by receiving
disproportionate high payment for commercial
transaction made with Gandhamardan ... society and the
allegation against the petitioners is for financial fraud and
misappropriation of the funds of the society and the case
is not entirely
were
appointed only to advise the Company regarding financial and risk
management, to unearth the financial fraud committed by erring Director -
Rajeev Satpal Lakhanpal, inspect ... were only appointed to advise the
Company regarding financial and risk management, to unearth the financial
fraud committed by erring Director - Rajeev Satpal Lakhanpal, inspect
