Shivani Thakur
Published on: May 13, 2022 at 19:54 IST
Delhi High Court on issued a Notice to the Central Bureau of Investigation on a Plea seeking a Probe into the use of black money in alleged illegal and unauthorised TSR Auto Finance Business.
The Court has also sought an Action Taken Report (ATR) from the Delhi Government and Delhi Police in the matter.
The Court has directed the registry to send the copy of the petition to the Vigilance Department, through the Secretary, Transport Department of the Delhi Government and to the Delhi Police Commissioner to be forwarded to the Economic Offences Wing (EOW)/ Serious Fraud Investigation Office (SFIO), for necessary action.
The Petition said the wrongdoers are rotating huge amounts of unaccounted/black money in cash under the pretext of TSR Auto Financing Business and are running parallel banking business without authorisation and are engaged in trading of auto permits.
“In view of the submission made before this court, it appears that some inquiry would be required to be made in respect of the working of financers in this city and whether they do so within the parameters of the Law,” the Court said.
The Bench also said, “The possibility of Economic Offences being committed across the board, apart from corruption, would need to be investigated.”
It was also submitted that though the Delhi Government had through its public notice of August 8, 2012, made it a condition precedent that the Financiers will be the Non-Bank Financial Institutions (NBFC), there were several proprietorship concerns that were financing purchase of TSRs and thereafter, filing Cases before the Civil Courts to recover even the vehicles. It is further submitted that complaint to vigilance has also produced no results.