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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  IFCI Limited    IFCI   INE039A01010

IFCI LIMITED

(IFCI)
End-of-day quote. End-of-day quote NATIONAL STOCK EXCHANGE OF INDIA - 06/14
8.75 INR   -1.69%
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IFCI : TDP MLC moves K'taka HC against CBI case

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01/12/2019 | 08:47am EDT

BENGALURU: Vakati Narayan Reddy, TDP MLC from Andhra Pradesh, has moved the Karnataka HC, seeking quashing of an FIR and chargesheet filed against him by the Central Bureau of Investigation (CBI) in relation to a case of economic offence.

Reddy, who is also Managing Director of VNR Infrastructures, said the complaint filed by the Industrial Finance Corporation of India Limited (IFCI) does not make out the commission of an offence.

The FIR or chargesheet filed by the police does not in any manner indicate consent having been given by the Government of Karnataka for the CBI, under Section 6 of the Delhi Special Police Establishment Act. Therefore, the FIR and chargesheet are liable to be quashed, he prayed to the HC.

The case was registered against Reddy by the CBI, based on the complaint dated May 3, 2017, filed by Pooja Tiku, Deputy General Manager (Law), IFCI Limited, New Delhi, under the provisions of the Prevention of Corruption Act.

According to the complaint, Reddy, the second accused, and seven others had entered into a criminal conspiracy in 2014-16 to cheat IFCI Limited, Bengaluru. On Friday, Justice P S Dinesh Kumar adjourned the case to January 18 for further hearing.

(c) 2019, Express Network Pvt Ltd. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Managers
NameTitle
Emandi Sankara Rao Chief Executive Officer, MD & Director
Jhummi Mantri Chief Financial Officer & General Manager
Kiran Sahdev Non-Executive Director
Narayanaswamy Balakrishnan Non-Executive Director
Arvind Sahay Non-Executive Director
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