Ghanshyam Pandey filed a writ petition challenging the issuance of a Look Out Circular (LOC) against him. The LOC was issued at the request of the Serious Fraud Investigation Office (SFIO) in connection with an investigation into Shilpi Cable Technologies Ltd. Pandey, a former CEO and whole-time director of Shilpi Cable, was stopped at Indira Gandhi International Airport while intending to travel to the U.S.A. The SFIO is investigating allegations of fraudulent transactions and siphoning of funds involving Shilpi Cable and its group companies. The petitioner claims he is not a promoter and cooperated with the investigation.
Ghanshyam Pandey, the petitioner, was the CEO of Shilpi Cable Technologies Ltd from 2006 to 2012 and a whole-time director from 2013 to 2017, also a member of the audit committee from 2011 to 2017. He was stopped at Indira Gandhi International Airport on November 24, 2021, due to a Look Out Circular (LOC) issued by the Serious Fraud Investigation Office (SFIO). The SFIO is investigating Shilpi Cable for alleged fraudulent transactions and siphoning of funds. Shilpi Cable is undergoing Corporate Insolvency Resolution Process (CIRP) initiated by Macquarie Bank Limited, and is now in liquidation. An audit revealed preferential and fraudulent transactions causing losses to secured creditors. Shilpi Cable allegedly transferred over Rs. 800 crores to related companies in
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Ghanshyam Pandey was…
Ghanshyam Pandey was a…
Ghanshyam Pandey filed a writ petition challenging the issuance of a Look Out Circular (LOC) against him. The LOC was issued at the request of the Serious Fraud Investigation Office (SFIO) in connection with an investigation into Shilpi Cable Technologies Ltd. Pandey, a former CEO and whole-time director of Shilpi Cable, was stopped at Indira Gandhi International Airport while intending to travel to the U.S.A. The SFIO is investigating allegations of fraudulent transactions and siphoning of funds involving Shilpi Cable and its group companies. The petitioner claims he is not a promoter and cooperated with the investigation.
Ghanshyam Pandey, the petitioner, was the CEO of Shilpi Cable Technologies Ltd from 2006 to 2012 and a whole-time director from 2013 to 2017, also a member of the audit committee from 2011 to 2017. He was stopped at Indira Gandhi International Airport on November 24, 2021, due to a Look Out Circular (LOC) issued by the Serious Fraud Investigation Office (SFIO). The SFIO is investigating Shilpi Cable for alleged fraudulent transactions and siphoning of funds. Shilpi Cable is undergoing Corporate Insolvency Resolution Process (CIRP) initiated by Macquarie Bank Limited, and is now in liquidation. An audit revealed preferential and fraudulent transactions causing losses to secured creditors. Shilpi Cable allegedly transferred over Rs. 800 crores to related companies in
…Ghanshyam Pandey was…
Ghanshyam Pandey was a…