CRB Mutual Fund Case: Supreme Court Rejects Former Director's Plea Against Forensic Audit Order

The Supreme Court recently refused to interfere with a Delhi High Court order directing a forensic audit and SEBI supervision of the winding up of the CRB Mutual Fund, dismissing a special leave petition filed by C.R. Bhansali, a former director of CRB Capital Markets Ltd., in the long-running proceedings arising from securities and mutual fund irregularities of the 1990s. A bench of Justices J.B. Pardiwala and K.V. Viswanathan said: “Having heard the learned counsel appearing for the parties...