The Allahabad High Court has pulled up the Enforcement Directorate (ED), Serious Fraud Investigation Office (SFIO) and Economic Offences Wing (EOW) for their failure to carry out a proper investigation into the Shine City scam, where several crores of investors’ money were siphoned by the accused.
The court directed the three agencies to file a status report showing the progress of the investigation in this matter and fixed July 1, 2024, as the next date of hearing.
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Hearing a writ petition filed by Shriram Ram, an investor of the company, a division bench comprising Justice Siddharth and Justice Prashant Kumar observed, “This court feels that the entire investigation has been most lackadaisical and all these agencies have utterly failed. These agencies are directed to carry out a proper investigation and put sincere efforts to find out the trail of money.”
The court also directed the Ministry of External Affairs to file an affidavit showing the day-to-day progress of the extradition of the fugitive accused. In the order dated May 31, the court also directed that no further sale deeds shall be executed by the accused or their nominees or their managers in favour of any third party.
The court further directed the respondent authorities to ensure that none of the persons, who are involved in this case, shall leave the country.
