SEBI says Pearl Agrotech siphoned off funds, seeks CBI probe

The Supreme Court issued a issued a notice to Pearl Agrotech, barring it from selling or disposing of any of its assets.

July 25, 2016 / 19:16 IST

In a hearing in the Supreme Court, market regulator Securities and Exchange Board of India accused Pearl Agrotech, which is caught up in an alleged Rs 49,000 crore scam, of siphoning funds abroad.Following this, the apex court issued a issued a notice to the chit fund company, barring it from selling or disposing of any of its assets. Sebi also sought a Central Board of Investigation probe into the fund transfer, prompting the apex court to send notices to both the investigative agency and the government seeking their replies before the next hearing on August 2.

first published: Jul 25, 2016 07:16 pm

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