NEW DELHI: The Supreme Court docket on Tuesday stayed the felony proceedings initiated by UP police on FIR lodged by Essel Group founder Subhash Chandra towards Sure Financial institution and expressed concern over felony process being invoked in a dispute of civil nature between two corporations.
A bench mentioned that invoking felony proceedings in matter of civil dispute would have very critical penalties. Senior advocate Abhishek Singhvi, showing for the financial institution, contended that proceedings towards the financial institution by UP police was abuse of regulation because the UP police took steps to freeze the voting rights on Sure Financial institution’s stake held in Dish TV.
A bench mentioned that invoking felony proceedings in matter of civil dispute would have very critical penalties. Senior advocate Abhishek Singhvi, showing for the financial institution, contended that proceedings towards the financial institution by UP police was abuse of regulation because the UP police took steps to freeze the voting rights on Sure Financial institution’s stake held in Dish TV.
Supply: Times of India