The Supreme Court Wednesday questioned the Securities and Exchange Board of India (Sebi) why it was reluctant to probe allegations of round-tripping of funds, violations of the Companies Act, and siphoning of funds against the promoters of Indiabulls Housing Finance Limited (IHFL), now known as Sammaan Capital Limited.

Hearing a plea by the NGO Citizens Whistle Blower Forum seeking a probe by a Special Investigation Team (SIT) into the charges, Justice Surya Kant, presiding over a three-judge bench, apparently compared the market regulator’s responses in different cases.

“When (the) question of taking over properties and selling comes, then you say we are the only authority in the country with jurisdiction. But when the question of investigation comes… Because your officers have some ves

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