Filed by Citizens Whistle Blowers Forum, this PIL seeks an in-depth, thorough and time bound investigation by a SIT into various serious illegalities, violations and siphoning committed by the promoters of Indiabulls Housing Finance Limited (IBHFL), its subsidiaries and their promoters.
Senior Advocate Mukul Rohatgi, appearing on behalf of the Indiabulls, moved an application seeking withdrawal of notice issued to Indiabulls and passing an order dismissing the writ petition.
Mr Rohatgi argued that the present petition is not maintainable as Indiabulls is a private entity, thus, a PIL under Article 226 of the Constitution cannot be invoked against it.
It was also pointed out by Mr Rohatgi that there's no case complaining about cheating, fraud or default on demand by Indiabulls. He argued that the present PIL has been filed to malign the image of the housing finance company.
The Division Bench of Justice DN Patel and Justice Hari Shankar noted that hearing this application would be as good as hearing the main PIL. Therefore, the court ordered both the application moved by Indiabulls and the main PIL to be heard together on November 29.
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