Hyderabad, Sept.14 (Hydnow): In a relief to Karvy stock broking company, a division bench of Telangana High Court on Monday stayed the ongoing probe by Serious Fraud Investigation Office (SFIO) into the alleged financial irregularities at Karvy.
The bench prima facie found that the authorities concerned have not followed the procedure in the case. The bench passed this interim order in an appeal filed by the the company challenging a single judge order who dismissed company’s petitions. The bench issued notices to the ministry of corporate affairs (MCA) and registrar of companies (ROC) for filing counter affidavit along with reports and letters of ROC and posted the matter to September 30 of this month for further hearing. (Hydnow)