Petition in #MadrasHighCourt raises concern that the Economic Offences Wing of TN Police is not manned by trained personnel with sufficient technical knowledge such as in accounting, auditing, market conditions etc. to probe case against #FranklinTempleton. @FTIIndia
#MadrasHighCourt observed today that it is necessary that the “Economic Offences Wing in the State police is beefed up, so to say, with appropriate personnel", while issuing notice in the plea.
SEBI, Enforcement Directorate added as parties in the matter
@SEBI_India @dir_ed
SEBI, Enforcement Directorate added as parties in the matter
@SEBI_India @dir_ed
Chief/Home Secretary of State to file a report in four weeks suggesting measures to “introduce a degree of specialisation in the EOW of the State police, particularly in the manner of recruitment or even engagement as consultants or the like.”
#MadrasHighCourt
#FranklinTempleton
#MadrasHighCourt
#FranklinTempleton
Petitioner contends there are 2 aspects warranting serious probe:-
1) 3 months before winding up, there were Rs 2,000 crores of related party transactions;
2) there was 5000% increase in related party redemptions, "which is a classic case of insider trading"
#FranklinTempleton
1) 3 months before winding up, there were Rs 2,000 crores of related party transactions;
2) there was 5000% increase in related party redemptions, "which is a classic case of insider trading"
#FranklinTempleton
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