Overview

• The Supreme Court pulled up the CBI on July 21 for failing to appear in a case over alleged loan-disbursal irregularities by Indiabulls Housing Finance.
• Justices Surya Kant and Joymalya Bagchi ordered senior CBI officials to present themselves at the next hearing on July 30 after questioning the agency’s refusal.
• The court ruled that the CBI can initiate investigations based on judicial records without requiring a formal complaint or state consent.
• Advocate Prashant Bhushan told the bench that Indiabulls routed thousands of crores in loans to companies and then funneled hundreds of crores back to its promoters.
• Affidavits from the Enforcement Directorate and SEBI confirm ongoing probes into irregularities, including an ED allegation of ₹300 crore siphoned abroad in a Maharashtra case.