PATNA, AUG 4: The Patna High Court has issued notices to the Centre, Reserve Bank of India and the Central Bureau of Investigation besides JVG group of companies on a public interest litigation seeking ``an appropriate inquiry'' into the alleged defrauding of public money worth several crores of rupees by different financing companies of the JVG group.A division bench comprising of chief justice, B M Lal and Justice S K Sinha of the court issued the notices while hearing the petition filed by the Vice President of Buxar rotary club, Rajshree Rai, yesterday.
Appearing on behalf of the petitioner, Ashwini Kumar Singh said that people had made huge investments in several financing subsidiaries of the private company but even their principal amount was not being refunded.
Singh urged the court to order a CBI inquiry into the `racket'.
He said the subsidiary financing units of the private group had also started winding up their branch offices at several places in the state which the advocate said had alsoraised the doubts of ``a foul play.''
The division bench also issued notices to the Chairman of the company, K L Sharma, asking him to explain his position.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
