Karnataka HC dismisses plea to transfer Valmiki Corporation case to CBI
Team Udayavani, Nov 14, 2024, 10:47 AM IST
Bengaluru: The Karnataka High Court has rejected a petition by Union Bank of India (UBI) that sought to transfer a criminal investigation related to financial irregularities at Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Ltd. to the Central Bureau of Investigation (CBI).
The court stated that the Banking Regulation (BR) Act, 1949, does not grant banks the authority to select an investigating agency for cases handled by state authorities.
Justice M. Nagaprasanna observed that allowing banks to transfer state-investigated cases to the CBI under Section 35A of the BR Act would be an overreach of the Act’s provisions. UBI argued that the Reserve Bank of India’s (RBI) guidelines mandate CBI involvement in bank fraud cases involving amounts over Rs 50 crore. UBI contended this rule should apply, as bank officials were implicated.
However, the court highlighted that the CBI’s jurisdiction under the Delhi Special Police Establishment (DSPE) Act limits its intervention in state matters unless directed by the Supreme Court or a High Court. The court clarified that while it retains the power to transfer cases under Article 226 and Section 482 of the CrPC, it dismissed the current plea, emphasizing that the CBI may proceed separately with its ongoing investigation.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Cong-BJP spar over K’taka CM’s charge that saffron party attempting ‘horse trading’ to topple govt
COVID-19 scam: Karnataka cabinet decides to set up SIT
Stray dog menace at Kempegowda International Airport causes concern
Malpe: Sewage, trash cleared from Fisheries College campus
Six scholars, including two women, win Infosys Prize 2024
MUST WATCH
Latest Additions
Cow smuggler dead, six others injured after their vehicle overturns during police chase
Assam bypolls: Samaguri Cong candidate alleges rigging by BJP, demands repolling
Who in Congress has said Article 370 will be restored? Shah spreading lies: Kharge
All arrangements in place to ensure smooth darshan at Sabarimala shrine: Kerala police
Delhi pollution: Mothers’ group write to health minister, highlight respiratory issues among kids
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.