The Supreme Court has issued notices to the central government, Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI) and others on a petition filed by PACL India Ltd. seeking stay of an order of the Madhya Pradesh High Court. The High Court had on the basis of a preliminary CBI enquiry report noted in its order that the allegations made are “prima facie found to be true” and directed its order to be circulated to different government agencies by way of information.......
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