HYDERABAD: The Telangana High Court has issued notices to the Central government, CBI and others concerned to respond to the petition filed seeking CBI probe into the alleged illegal activities of the liquidator of Super Agri Seeds Private Limited company and the chief manager of State Bank of India concerned in the liquidation process of the company.
The petitioner also sought directions to the chairman of Insolvency and Bankruptcy Board of India to suspend the insolvency professional registration of the company. Justice A Rajasheker Reddy was passing this order recently in the writ petition filed by S Ravi Srinivas, who was the managing director and promoter of the suspended board of the company which has a share capital of Rs 60 crore.
The company has taken several loans from SBI and other banks and failed to pay Rs 46.38 crore. After hearing the case, the judge issued notices to the secretary, ministry of home affairs, secretary to the ministry of corporate affairs, CBI joint director, and also to the liquidator and SBI chief manager to respond and posted the matter to October 1 for further hearing.