SC for CBI probe against Tata Finance

Wednesday, 07 January 2004, 20:30 IST
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NEW DELHI: The Supreme Court Tuesday directed the Central Bureau of Investigation (CBI) to probe alleged large-scale financial irregularities by Tata Finance Limited. At the same time, the apex court expunged certain observations made by the Bombay High Court against former Maharashtra deputy chief minister Chhagan Bhujbal in the case. A bench comprising Chief Justice V. N. Khare and judge S.H. Kapadia said in a financial matter like this, a CBI probe would be the only appropriate course of action. While deleting the high court's observations against Bhujbal, the bench said any observation made by it would not come in the way of an investigation by the CBI as well as the trial proceedings before a Mumbai metropolitan magistrate. Tata Finance had also alleged at least two phone calls were made from Bhujbal's office to the officials of the Maharashtra crime branch probing the financial irregularities. Bhujbal, in a special leave petition, had sought expunging of adverse remarks against him. Appearing for the Maharashtra government, counsel Kapil Sibal said the state authorities would have no objection to a CBI probe provided the apex court made it clear that the high court's observations would not in any way influence the investigation. The bench accepted this. Bhujbal resigned last month when his role in a multi-billion rupee fake stamp paper racket came under the scanner. Police have summoned his nephew for questions and there are reports Bhujbal might be quizzed.
Source: IANS