Chief Metropolitan Magistrate D M Patel, on Tuesday, directed the Criminal Investigation Department (CID) to probe the allegations levelled against the SEBI, the National Stock Exchange of India (NSE), the Bombay Stock Exchange (BSE) and Satyam Computers. Panchal had filed a petition in the Metropolitan Court through advocate R J Kevat, stating that a large number of small investors have suffered huge losses due to the high-profile scandal.

The petition further states that around 78 per cent of the people who had invested in Satyam were from Gujarat and they have sustained heavy losses.

Talking to Newsline, Kevat said that the All Gujarat Investors’ Protection Trust had warned the regulatory agencies like SEBI, NSE and BSE about the suspicious activities of the company.