Overview
- The Supreme Court, which heard the case Monday, said the CBI and ED showed reluctance and ordered a fair, transparent, time-bound probe under its watch.
- Solicitor General Tushar Mehta said the ED formed a special team, attached assets worth about Rs 15,000 crore, and made four arrests.
- The bench recorded an ED filing on “Project Help” that said claims of about Rs 2,983 crore were settled for Rs 26 crore through eight non-bank lenders in cases under India’s bankruptcy law.
- Status reports said the CBI is probing seven FIRs and the ED eight, and the court noted estimates that the alleged fraud totals around Rs 73,000 crore.
- The judges told agencies to coordinate, required banks to share data, and set the next review in four weeks as concerns over insolvency settlements sharpen risks for creditor recoveries and public money.