The Economic Times

Supreme Court rejects Centre's plea on private complaints in Companies Act fraud cases

The Supreme Court rejected the Centre's plea regarding private complaints in fraud cases. Special courts cannot take cognisance of such complaints filed under the Companies Act. The court allowed the Centre to authorize officers to file complaints in these matters. This ruling ensures further scrutiny before fraud allegations are considered. The decision stemmed from a case involving former directors of Shreemukh Namitha Homes.